All you need is Windows Movie Maker application. In Windows XP, this program already exists by default. Follow the steps below to record video from your laptop integrated webcam:

1. Click "Start" > "All Programs" > "Windows Movie Maker"
2. On the Windows Movie Maker Movie Tasks click Capture from video device
3. In Available devices, click the analog device you want to use to capture video, and then, in the Video input source list, click the input line you want to use, then click Next.
I use "Realtek HD Audio Input" as Audio Device and "Mic Volume" as Audio Input source (Aspire 4710)

4. In the Enter a file name for your captured video box, enter a file name for your captured video file. Then, in the Choose a place to save your captured video box, select the location where you want your video to be saved or click Browse to select a location. Click Next

5. On the Video Setting page, select the video setting you want to use for capturing video and audio.

Available settings :
- Video for Pocket PC (218 Kbps)
- Video for Pocket PC (143 Kbps)
- Video for Pocket PC (Full screen 218 Kbps)
- High quality video (large)
- High quality video (small)
- Video for local playback (2,1 Mbps)
- Video for local playback (1,5 Mbps)
- Video for LAN (1,0 Mbps)
- Video for LAN (768 Kbps)
- Video for broadband (512 Kbps)
- Video for broadband (340 Kbps)
- Video for broadband (150 Kbps)
- Video for ISDN (48 Kbps)
- Video for dial-up access (38 Kbps)
Typically, a higher bit rate will result in higher-quality video with smoother motion. However, as the bit rate increases, so does the size of the captured video file.
6. To prevent the video into smaller clips after the wizard completes and the video is captured, do not select the Create clips when wizard finishes check box,
To prevent audio from playing over your speakers while capturing video, select the Mute speakers check box.
To automatically stop capturing after a time period has elapsed, select the Capture time limit check box, and then type or select the length of time you want to capture. Time is displayed in the form of hours:minutes(h:mm).
To begin capturing, click Start Capture.

7. To stop capturing, click Stop Capture.
If you have selected the Capture time limit check box, wait for the specified amount of time for video to be captured.
Done! :)you can open your video in drive D:\
note: you may use another webcam not just from Acer
UPDATE 1 :
Anonymous said…
i have acer aspire 5920 with vista.
this is how i record video WITH NO EXTRA SOFTWARE AND VERY EASILY!!
locate the program that came from acer that is called 'acer arcade deluxe' click on 'dv wizard'. there you go!!!
you can find your video in windows gallery. mine seem to save automatically to 'user name - videos'.Thanks
UPDATE 2 :
Anonymous said…
UPDATE Found a program that appears to work. Free and no spyware. Its called Debut Video Recording Software and can be found at cnet here http://download.cnet.com/Debut-Video-Recording-Software/3000-13633_4-10684791.html
Thanks.. Please read this Record Video Using Acer Crystal Eye Webcam on Vista