Video editing software

Depends on OS and price. I used to use Final Cut but switched to Premiere when Apple introduced FCPX. If on a Mac I would probably start with iMovie and move my way up to FCPX.
 
I'm still rocking FCP7 as didn't like how X was basically iMovie on steroids.

After Effects for stablisation using ProDAD Mercalli plugin if needed.

Have only recently used GoPros Cineform Studio seeing what it can do. Good for a bit of quick colour correction.
 
On a Mac,
I use MPEG Streamclip (free) to convert the files from the GoPro to the apple native ProRes format. Then use FCPX. You wi ll need a fast external HD as ProRes files are huge. Editing is very fluid though. I'm on an old MacBook Pro with Core 2 Duo and 4 gigs RAM. The fans run fast during renders but t quite stable.
 

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