Open Broadcaster Software, or OBS for short, is free and open source program for video recording and live streaming. Available for Windows, Mac OSX and Linux, OBS is completely free. OBS allows users to stream / record video from their computer a game they are playing, a webcam, or all or part of a window or desktop.
Video files can be saved in a variety of formats. Unlike FLV, MP4 is a popular format that works on almost any device and maintain quality in the same time with a reasonable file size. I recommend you to save your recordings as MP4.
I use OBS at home and at work. At home OBS is great for recording youtube videos, or streaming video games to www.twitch.tv. At work, OBS is a great platform for capturing screencasts for creating training videos. OBS is easy to use with a small learning curve.

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