Moniter video recording

I plan on doing something that requires me to record footage me playing King of Fighters and Street Fighter Alpha 3 on my computer. Is there any way for me to record anything that happens on my moniter and save it as AVI or MPEG or some other video footage extention.

You need either a tv-tuner card, or a video capture card.

Or download HyperCam - worked well for recording full screen epsxe footage :p