I'm new here and plan to start speedrunning some childhood games (free wr's are best wr's), but I want to get some of the technicalities out of the way.
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What applications are good for recording and/or streaming runs?
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If you are playing a game that doesn't have any times yet, then how does it get posted on here?
(I would prefer if said applications are free since I don't have a lot of money) :D
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XSplit/OBS for streaming and recording. WSplit/Livesplit for a timer (my personal favs are XSplit and WSplit for whatever it's worth).
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If the game is on here, just post your time. If the game itself isn't even on here, then go here http://www.speedrun.com/requestgame and request the game be added (you will be added as a moderator for the game as well).
Happy running and gl
Xsplit/OBS is a toss-up for recording software and seems to come down to personal preference at the end of the day, but I would highly advise you not to use Wsplit as a timer and to opt for LiveSplit instead; it does the exact same thing as Wsplit, but is far more customisable, with more features and integration with SRL/SRcom, and is frequently maintained/updated.
On free WRs being the best WRs, it can certainly feel like it initially, but I urge you to also aim for 'competitive' WRs, as you will get a much greater sense of accomplishment by toppling an already-established and 'strong' WR.
I had problems with Livesplit crashing and had a couple cases on my old laptop where Livesplit ate my CPU the way Chrome eats RAM. Both of those led me to WSplit (especially since I used practically none of the customizable features Livesplit offers).
But yeah, Livesplit is definitely the better option in 99% of cases and it does offer amazing features and customize options. Plus like Drakodan said, it's still updated constantly whereas WSplit was last update in 2013 I think or something like that.