The term "video" covers such a broad range of formats and containers. Mpeg 2, mpeg 1, vob, mp4, avi, mov, mkv, flv, etc. most of the free editors won't handle all these different formats. Find out what your video is ( I use Gspot) and search Videohelp or Digital Digest for editors.
To edit out rude words, you'll probably have to separate the audio from the video (demux) and edit the audio file in audacity. Time consuming, but, video editing usually is. It's not as complex as it looks.
I know how to do it if your video is mpeg.
I use Mpeg2schnitt to cut out unwanted footage.
But it only works with mpeg 2 elementary streams. I don't know what format your video is, Is it mpeg ???
If so, here's how I do it; (From memory)
You have to separate the audio from the video. (Demux) I use Batchdemux.exe, on Win XP. You could also use Projectx, Pvastrumento, or Dgindex,
(Check out http://www.videohelp.com/tools
After you demux you'll see 2 files. a M2V (video) and AC3, or MP2, or Wav (audio)
Open the M2V in Mpeg2schnitt, after it indexes the video, add the audio file.
(Mpeg2schnitt won't open Wav) Click the "in" button on the video you want to keep,
click the "out" button, you'll see that section highlighted, add it to the cut list by clicking on the scissors. (Don't know why they call it the cut list because you'll be keeping these)
for example; Lets say you want to cut commercials out of a TV show. After the commercial, mark "in" the next section of video you want to keep, mark "out" at the next commercial. Add that to the cut list, Click "in" after the commercial, click "out" at the next commercial, add to the cut list, and so on.
you can merge another video, (M2V, AC3, MP2) by adding another video and the audio, then repeating the above procedure.
When you press "go" you'll be prompted to save the video, and choose a location.
When you click "start", Mpeg2schnitt will merge all the video in the cut list to one M2V (MPV) and one AC3 or MP2 file.
To edit the audio;
Open the audio (MP2 or AC3) file in Audacity, find the rude words you want to remove, highlight it, and "mute" or turn the volume down to 0. Don't cut it out. You need to keep the audio the same length as the video or the audio/video sync will be messed up beyond repair. Export the new audio file.
To merge (multiplex) the audio with the video, use Avidemux.
open the new M2V (MPV) in Avidemux. let it index the mpeg 2.
To add the audio go to "audio" > "main track" > "external audio" browse for your new audio file and add it. You can also correct audio/video sync problems in Avidemux, tic the "shift" button, and adjust the ms.
Now you can change the format to whatever. Don't know what you want to do with the video, so it's up to you.
I change it to an "MPEG - PS A+V " so I can burn it to a dvd after I author it.
To save the video, click "file" > "save" > "save video" if you have everything set right it will re-multiplex the audio/video to one file. (mpeg 2 or whatever)
When its finished, you might have to rename the file & add the extension yourself, .mpg, .mp4, or whatever.
All these free tools can be found at Videohelp.com or Digital Digest.com
If you need help, feel free to PM me.
Hope this helps.
If you find a free video editor that does all this, please post a link.