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Noticed that youtube's videos don't work anymore? Well, if this is a very recent matter and if you have installed recently the new flash player 11.3 odds are it's related to a small bug in their latest update. As of yesterday Adobe issued a fix for this problem. http://forums.adobe.com/message/4594596#4594596
Two of them are Gimp and Photofilter. From what I've read, Gimp is as good as Photoshop. Its main drawback is that is not as easy to use as Photofilter. Otherwise it's a powerful tool.
Virtual Dub seems highly recommended by most experts. Then there's Pinnacle's free VideoSpin, although this editor offers many tools that require a fee. In it's basic form is probably as good as Windows MovieMaker, which is also free. Avidemux seems a good alternative too. And last but not least there is VideoPad.