record clip from avi file?

[ricklock]

I keep hearing about capture. I can capture images while the video is playing, but is this program able to capture a clip? Is this what is referred to as capture video? I tried looking through the capture options and noticed there is a video and audio drop down menu, but there is nothing in it.

So can i record(capture?) a clip from lets say *.avi asf wmv mpg files? If so please provide instructions.

Thanks