VirtualBox, a long time user.
Cons: An update is an over-the-top install, and downloads are over 90MB.
For recording, I use the free and open-source OBS. Thread open here,
http://malwaretips.com/threads/open-broadcaster-software-live-streaming-and-recording.20484/ Also can be used to Live Stream to Youtube and Twitch.tv
- You can add images, banners and transparencies in-video, great for watermarking without needed too much external editing.
- You can choose what to record, the full screen or a specific window.
- Software-based noise cancellation.
And many more features to browse through.
Free? Camtasia Studio is about £200.
You need the correct, modern hardware and Windows 8.1 Pro or Enterprise for Hyper-V to be utilised.