Video is a technology for capturing (recording), playing, relaying & refreshing movable images (several images in a fast sequence in a row). There are some special extensions for OS Windows-based video players (.wmv), for Apple – Quick Time (.mov ; .qt). etc. Similarly to sound and the audio files, video files represent the flow of data which are processed by a computer or other machines. The results of the processing are sent to a graphic adapter which sends them to an output device, such as monitor, television etc.
Video editing programs like iMovie or Windows Movie Maker are able to cut various segments, re-sequence the clips or add miscellaneous effects. You could save your movie on a DVD or post it on websites like YouTube or Google Video.