I record using Fraps and time with LiveSplit.

Fraps: http://www.fraps.com/download.php LiveSplit: https://livesplit.github.io/downloads/

What do you use? Your suggestions will help new runners!

Camtasia for recording and editing. For timing, either LiveSplit or WSplit.

I always edit the video to add another track/layer showing the timer, for better accuracy.