CamStudio: Free Screen Recorder Software
Written by Pavan Kumar on December 21, 2008
Camstudio is a free software which can be used for screen recording purposes. You can use it to record screen video as well as audio activities going on your computer. You can easily record all your needed demonstrations, explanations or any presentations easily.
The main thing you should notice with this software is that it can provide you with high quality avi files and also, you can convert them into swf if you need it to place on your website.
You can also use CamStudio for more detailed editing purpose like adding subtitles, captions and also you can add another video into the video made by camstudio. It results in a filesize reduced and bandwidth friendly versions.
Digging more into the details of this software, we have options to capture the entire screen or just a small part. You may not need to capture entire screen to explain a tool which occupies a small screen area. This will result in reduced file size, chopping of what is unneeded. If you are looking for any screen capturing softwares, this would be a right choice for you.
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that too $100, highly expensive 
I am using this for the past few weeks. Very helpful utility.
Is there anything which will create GIF out of the screencast capturing?