What is a good way to compress digital video files?

I have often created videos for work recording presentations, webinars, demonstrations, etc.  One problem I have often had is the massive size of some of these video files.  Home videos I might create that I would like to share with family have a similar problem.  Is there a good way to somehow compress these files so they are smaller.  These are simply meant to be shown on the web, so super high picture quality is not really an issue.

 Hi Josh....

There are lots of ways. WMV, MOV, Flash, AVI, MPG and other video file types can be made with quality settings of good, better, or best... with file sizes that go up with higher quality.

It starts with the software choices you already have, and your knowledge and skills to use them.

It's about finding your personal 'sweet spot'... the balance between quality and file size. What might be best for you isn't necessarily what's best for your viewers.

PapaJohn