Many Blender users don't realize that in addition to being able to create 3D scenes, Blender can also edit video. Recent updates to the Blender video editor have made it a powerful alternative to traditional editors like Premiere Pro and Final Cut Pro. Moreover, it's free and Open Source!
SouthernShotty presents an excellent beginner's guide to editing video in Blender. Check out his excellent Youtube channel for more great tutorials. And visit Blender.org to download the latest Blender build for free!