When recording Audio, I have mostly been using Audacity. It is completely free. It allows you to record one track at a time, adjust volume etc. and export to wav or mp3.
It is not really a DAW (digital audio workstation), and when it comes to putting in midi stuff and addibg reverb and stuff, I wouldnt recommend it.
I am just currently moving on to Reaper, which is a cheap DAW at $60 and 60 days free trial. Lots of good toturials online.
To edit video, I have mostly been using the old Microsoft movie maker. Not a lot of options, but it never chrashes and makes a fast, perfect render every time. It is not available on new PCs though.
I have tried some freeware options.
ShortCut is simply too ubstable to recommend.
Blender will do the job.
Reaper also has a video editing funktion that looks decent, havent tried it yet. Probably not the most powerful, but if you buy the software for the audio anyway, why not use it.
From reading reviews, I think the most praised payed software for amateurs is PowerDirector. I havent tried it though.
If you plan on record right from the webcam and stuff, perhaps Camtasia is also worth looking into.