For Video editing nothing really beats VEGAS video 4.

I Use Vegas video, and it's the most streamlined software for video and audio recording.

It will let you render you final work to any format. For posting online, you have to consider the file size. You don't want to put raw AVI files on the web, they will eat up your bandwidth and space. It's like compressing wav files to mp3 files.

Using Windows Media 8 compression:

For 100 Kbps you can have 16KHz Mono sound and 320x240 15 frames per second video.

For 512 Kbps you will have 16K stereo sound with 320x240 30fps video.

For a 16K stereo sound and 640x480 30 fps video you will need a 3Mbps bandwidth.

So, you can customize the settings. If you prefer sound over video, you can have 16 bit stereo sound, but small video with low frame rate.