CamStudio is able to record all screen and audio activity on your computer and create industry-standard AVI video files and using it's built-in SWF Producer can turn those AVIs into lean, mean, bandwidth-friendly Streaming Flash videos (SWFs)

This software can capture Video, Audio, and has a built in editor to allow for captions to the video (if you so choose).

You can download and use it completely free for your personal and commercial projects as CamStudio and the Codec are released under the GPL.

More information and download locations can be found at CamStudio.org

When I played with this software, the conversion worked well, accept the HTML that was created was incorrect. You could play the file in Internet Explorer, but it didn’t work in other browsers. All that was needed was a slight change in the output HTML, which is described on the homepage. This issue will be fixed in a later release.