Recording

SimpleScreenRecorder: An easy to use and yet very powerful application to record your games. And it has an OpenGL recording mode.

Encoding

Yua: Encoding software designed to easily and quickly produce SDA-accepted videos.

FFmpeg: Command line swiss army knife. It does decoding, encoding, streaming, conversions, everything. More flexible than anything else but has a learning curve.

MEncoder: Very similar to FFmpeg.

HandBrake: Powerful encoding software. Less simple than Yua as it requires standard encoding knowledge to use properly.

Avidemux: Same as HandBrake.