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CamStudio is a free and opensource software for recording desktop screen. It is probably one of the best screen recording software with tons of features.  It is useful for making demonstration or tutorial videos with good features. 

Here is a review of CamStudio's settings and features:

Some CamStudio Errors and Solutions 

Some common errors that you may encounter when using CamStudio software are:

1. The specified device handle is invalid in stop() 

2. "waveoutgetselectcontrol() failed" when recording audio from speakers.