I'll let you into a secret. You don't need an expensive editing suite to put together a pro looking video. Just visit pixorial.com. There are a few free editing tools out at the moment, but this browser based application is really easy to use – and with your video being stored online it opens up some interesting options when it comes to sharing. Plus you can work on your project from whereever you like. Storage for the free account is 10 gig – with of course a premium option if you want more.
Truth be told it's not a particularly sophisticated tool... well what did you expect for free from the web? Just simple cuts and transitions, upload some music or use one of the 1600 tracks the site has in its library, tweak the audio levels, then just ass Titles and post your movie to the many integrated services on offer.
But what really sets this browser-based tool apart from the crowd is the ability to invite friends and families to collaborate on a project – a great idea for group events like weddings & sporting occasions. It is worth noting you'll have to get out your credit card if you want the option to make a DVD or high-res download – but the free version should work perfectly well for most uses.