Well for audio, I've just found audacity to be rather good... It might be a bit basic though, I don't know :o

PC or mac? if you're on a mac, my sister might know.

Actually Audacity is an awesome free recording soft. If you have mac "Garage Band" is also for IOS thingy like ipad/pod/phone which also have the the recording tool but you need the headset with mic for them. I use that for recording on the go.

As for Game video i actually use a lot of soft since not all work right with every game. the best i have found since it records on HD was the video recording integrated on X-Fire, which is also free and it has ingame overlay info about the disk space remaining.
There are also Fraps and Camtasia which i use for speed paints but are not free.

as for lineal editing and audio and video mixing i use Vegas 9 and Premiere, not free. But for a long time Windows Movie Maker worked just fine for basic stuff.

I effectively got Vegas Movie Studio HD Platinum 10.0 for free/pittance because of Fry's mail in rebate. It's terribly overcomplicated IMO - I like Cyberlink PowerDirector.

Fraps seems to be the standard game recording software though.

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