Let me be frank. "Best" will be a little expensive. That will be Adobe Premiere with a few add-ons and you'll shell out over one thousand for video editing software.
Or if your needs are like mine you can find a DVD recorder for your PC under 99 bucks which will have some basic video editing (fine for home videos) and you'll get the DVD recorder and software for... under 99 bucks.
To digitize such, I currently use the 49 dollar TV cards from Hauppauge or ATI. Both have video capture software which I use for the capture step.
Total bill can be well under 148 bucks. Or if you want the best, will zoom to a few thousand.
I have a Sony Handycam (Hi8) and want to take the video and upload it to my computer as digital from analog, edit with software (including a music overlay), and save it back to analog so it can be copied from the camera to a regular VHS tape.
Can someone give me the easiest (and least expensive)way to accomplish this please? I have some understanding about what I'd need, but would like more specifics and advice. For instance, best editing software, etc. A video person told me that I can just buy a converter and that would work. Is that true? If so, which is a good one to use.
Thanks for your help.