Good free Video Editor

[Eazy]

Hey everyone,
I was wondering if anyone know any good video editor? I was using WonderShare but the quality of video is getting worse whenever I try to save it(and just before the save it says "for $$ you will have full access, no watermark, better quality, blah blah, you get it).

I just want to connect some videos, add music, maybe cut some parts,(even add some effect like "falling words", black&white videos, it's not required but I'd like to have that option) etc.

I'd be very grateful if anyone know something like this.

[Blueobelisk]

Windows Movie Maker is seconded by me. I feel like there's a better older version of it though. Maybe I'm just not remembering correctly or just didn't know what I was doing back then, but try to find the old version.

[VeganHunter]

I hear GoPro studio is pretty good.... and free.