After downloading YouTube videos you can easily edit them using the Windows Movie Maker. Of course the Windows movie editing tool can handle only particular formats of video files and you can just shuffle around frames and add captions to various frames, still, a lot can be achieved through these basic editing facilities.
In order to edit a YouTube video in Windows Movie maker first of all you need the video on your local drive, that is, you need to download the video. There are many online and offline tools and utilities that let you download videos from YouTube and other streaming video websites. Here’s a good FireFox video downloading addon that lets you download the videos from the browser itself.
Once the video is on your hard drive, you’ll need to convert it into a Windows Movie Maker friendly format. The file is downloaded in most of the cases as an FLV file. The WMM works best with AVI and and WMV files so it’s better that you use a video converting software that converts FLV files to either AVI or WMV files. You can try Free Video Converter: it can handle almost all video formats and creates decent files after conversion.
Once you have converted the FLV file that you have downloaded from YouTube, you can simply import the video into Windows Media Player. With Windows Media Player you can apply effects like transition, captions, credits, and the others available with the software.
Please share in the comments section your favorite YouTube downoaders and video converters.