There are a lot of video editing softwares out there that do an exceptional job. However, just like photography, you need a good raw video to be able to make it better by editing. I have been editing videos for the past 2 years and have had the chance to work on plenty of softwares.
My personal choice for a Windows based editing software would be Sony Vegas Pro. This is a paid software and is very easy to understand and use. There are plenty of versions available for this software with varying prices depending upon your requirement and budget. The most basic version for this software costs $49.95 on their website and the most advanced version costs $799.95.
If you'd like to try it before you buy, download a trial version of this software and use it for 30 days. That would give you a much better understanding of its pros/cons. Learning to use this editing software becomes even easier with plenty of tutorials and How-To videos available on the internet. I have been using this software to edit all my video content available on YouTube and am very satisfied with my purchase.
I hope it helps,
I got this listing for you. Try them out, though all of them are not 100% free, but some of them are and most of them would do the basic video editing tasks quite well.
However, this software is not 100% free. It is a shareware and so once subscription has expired, users need to renew subscription to allow extended use.
Free Video Editor is a also a very effective video editing software which you can download for free.
If you are a professional videographer then Aura Video Editor is the one for you.
Try out Full Motion Video too.
Moviestorm is a complete animated movie-making package for PC and Macintosh users. but it's not 100% free. You get it Free to try for 14 days only!
Avidemux is a freeware video editor for the purpose of simple editing tasks.
VirtualDub's primarily does AVI file processing, it is also able to read but not write MPEG-1 files and BMP images.
Among all of them I have personally tried /Free Video Editor, and it worked fine for me.