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OBS Studio is free, open source, and does essentially everything: scene composition, multiple sources, transitions, and streaming to any RTMP endpoint. It is the tool most streamers and tutorial makers use. The plugin ecosystem covers recording quality, virtual cameras, and advanced audio routing.
Where it falls short
The interface assumes you know what you are doing, and initial scene setup takes an evening to get right.
Alternatives in Video & Audio
- DaVinci ResolveProfessional editing and colour grading for free.
- CapCutFast editing built for short-form vertical video.
- DescriptEdit audio and video by editing the transcript.