Here are some links to different resources to learn more about video production and software. Just like web development, there are a lot of things to consider when developing and editing a video piece, including how you are going to publish it(format) and how you are going to display it on your web site.
VIDEO:
Video Production Basics:
This site talks about everything from camera techniques or how to shoot interviews, news stories and to build you own low budget green screen and other video tools.
http://www.mediacollege.com/video
AUDIO:
Resource for Audio software reviews:
http://emusician.com/editing/
Audacity (free audio editing software!)
http://audacity.sourceforge.net/
PUBLISHING:
Compression for Web:
Sorenson Squeeze (many formats including .flv)
http://www.sorensonmedia.com/