Wax:

Wax is a powerful and flexible free video editing program. It started out as a college project, and has since grown. Wax is good for both home users and professionals. It can be used as a stand-alone application, or as a plug-in to other video editors. The software also features unlimited video and audio tracks with top-down compositing.

Zwei-Stein:

Zwei-Stein is great free video editing software, but the user interface is very technical. It is full featured, offering many different effects. It can edit up to 256 video, audio, and still image clips. There are up to 64 effects, which can be chained serially. An interesting program that’s worth looking at.

Windows Movie Maker:

Being a standart pre-installed Windows application, Movie Maker has drag and drop features to make creating and editing your movie easier. Microsoft has many add-ons for this software, and upgrades are available through the website. This is one of the best free video editing software available.

Apple iMovie:

Comes with MacOS and has many advanced features & add-ons. Unfortunately, the software is only free if you buy a new MAC system. If you want the software without buying the system, it is available for purchase. One of the best free video editing programs available for MAC users.

Avid FreeDV:

Avid FreeDV is available for both Windows and MAC operating systems, and includes basic video and audio editing capabilities, as well as up to two streams of real-time effects. On the whole, a solid video editing program that is slightly hard to use, but very powerful once you learn its ins and outs.