If you have an nVidia video card that's at least in the GTX 600 series (anything after will be fine, as well), I highly recommend Shadowplay. Just note that you'll want to do your recording in ~10 minute segments, because if the resulting video file ends up being larger than 3.8GB, it'll split the remainder off in another file which can cause artifacting in file #2. Shadowplay has absolutely zero (from what I've seen) impact on performance, which is a huge plus. Shadowplay is also completely free, since it comes with nVidia's driver and game optimization software.
As for editing, I'm becoming partial to Corel VideoStudio X6, which I got with my laptop. Its like Adobe's thingy, but for me at least, a LOT easier to understand and use.