Video+Tools

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Jing
The two best FREE video capture or screencasting tools to accomplish the task include the following:

Jing: http://jingproject.com
 * Take a picture or make a short video of what you see on your computer monitor.
 * Share it instantly via web, email, IM, Twitter or your blog.
 * Simple and free, Jing is the perfect way to enhance your fast-paced online conversations or create an instant tutorial for you students to see and hear the instruction multiple times. Value = The free version of Jing allows for 5 minutes of recording- can be limiting for some, but for others- the concises of 5 minutes is perfect to get your message across and keep your audience engaged.

ScreenCast-O-Matic
 ScreenCast-O-Matic: http://www.screencast-o-matic.com Online screen recorder for one-click 15 minute HD recording with picture in picture from your browser and webcam on Windows, Mac, or Linux with no install. Final output files include Flash, export to Quicktime .MP4 or Windows .AVI, or upload to Youtube, or upload to Screencast-O-Matic site. Value = The free version of Screencast-O-Matic allows for 15 minutes of recording- I like the longer recording length of 15 minutes and the high quality of of HD and picture in picture so the students can see the teacher's image and voice to compliment the instruction video.

Comparison of Jing and ScreenCast-O-Matic media type="youtube" key="ovfeGPKC7Wk" height="349" width="560"

Mimio Software
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 * Using mimio Recorder (2:20) [|Windows] | [|Mac]

Other (paid) options
Camtasia Adobe Captivate Screenflow