Question=How do you recordWell there are a couple ways to do this, but here's what I do: I record my videos with a little program called fraps. This is a pretty easy to use, free program that will allow you to take little 30-second video clips of whatever computer video game you're playing. You can pay a small fee and unlock unlimited recording as well. A word to the wise though, these little video files can eat up a TON of disk storage space if you're not careful.
Videos on wizard101?
The other method I use is recording from X-fire. X-fire is a great program that does a lot more than just record videos. It's basically like a social networking program for gamers. While you have X-fire running on your machine it will track which games you play and allow you to record video while playing!
After I have the raw footage from fraps or X-fire, I usually just dump the files into the free Window's Movie Maker program (which has come free with Windows for many many years btw, most people don't even know they have it on their computer) and stitch them together into something cool.
If you get really creative with fraps or x-fire you may even be interested in checking out the hobby of Machinima. Machinima is when you combine video game footage with your own scripted cinema. There's a lot of really creative stuff out there.
And, last but not least, youtube it.
Best of luck making those videos!