Here are a few good sources for free Audio/Video software on the web:
Audacity – Audacity is free, open source software for recording and editing sounds. It is available for Mac OS X, Microsoft Windows, GNU/Linux, and other operating systems. It is pretty simple to use.
Celtx – Celtx is the world’s first all-in-one media pre-production system. It replaces ‘paper & binder’ pre-production with a digital approach that’s more complete, simpler to work with, and easier to share.
Firewire HD Video Capture Software
HDVSplit – Utility for capturing HDV stream from your camcorder with scene splitting by timestamp and dropped-frames indicator. You can also split MPEG2 Trasnport Stream files captured earlier – new scenes are detected by date and time read from .m2t file. For preview you need MPEG2 decoder, if you don’t have one, try free ffdshow.
ffdshow – ffdshow is DirectShow and VFW codec for decoding/encoding many video and audio formats, including DivX and XviD movies using libavcodec, xvid and other opensourced libraries with a rich set of postprocessing filters.
3D Animation and Morphing
Blender – Blender is the free open source 3D content creation suite, available for all major operating systems under the GNU General Public License.
WinMorph – WinMorph is a high performance morphing and warping software. WinMorph enjoys a very wide user base, having been used in movies such as Dreamcatcher.
IMGBurn – ImgBurn is a lightweight CD / DVD / HD DVD / Blu-ray burning application.
DVDStyler – DVDStyler is a cross-platform free DVD authoring application for the creation of professional-looking DVDs. It allows not only burning of video files on DVD that can be played practically on any standalone DVD player, but also creation of individually designed DVD menus. It is Open Source Software and is completely free.
DVD Flick – DVD Flick aims to be a simple but at the same time powerful DVD Authoring tool. It can take a number of video files stored on your computer and turn them into a DVD that will play back on your DVD player, Media Center or Home Cinema Set. You can add additional custom audio tracks, subtitles as well as a menu for easier navigation.
VLC Media Player – VLC media player is a highly portable multimedia player and multimedia framework capable of reading most audio and video formats (MPEG-2, MPEG-4, H.264, DivX, MPEG-1, mp3, ogg, aac …) as well as DVDs, Audio CDs VCDs, and various streaming protocols.
GIMP – GIMP is an acronym for GNU Image Manipulation Program. It is a freely distributed program for such tasks as photo retouching, image composition and image authoring.