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I've had a lot of success with Avidemux - ignore the name, it works with most formats - it's certainly the fastest I've seen at cutting / joining, and because it copies streams where at all possible it also doesn't reduce the quality in the way that some do.
It's also free under the GNU licence: www.avidemux.org
Extracting a chunk is simple:
Open the file (CTRL+O or "File...Open"
Move the slider to the start point. Press the "A" button
Move the slider to the end point. Press the "B" button.
Set the output format (annoyingly, it always defaults to AVI)
Save the file (CTRL+S or "File...Save") under a new name. This normally takes seconds or a minute.
Bad command or file name. Bad, bad command! Sit! Stay! Staaaay...
AntiTwitter: @DalekDave is now a follower!
I second that. I'm running it right now on Windows 10. Works same as always. However, Microsoft this year disable the full download link for Windows Live Essentials 2012. Therefore, you have to do some creative google searches to find it. The file name is "wlsetup-all.exe." Watch out, because it comes in many different languages. So, you might have to download a few to find the language you want. The English version I have is 134,112KB.
After Effects has a free 30-day trial. After that's it's $20 a month. If you're serious about video editing, it's worth it. If it's just a hobby or for fun then maybe not, still have a free trial though.
I finally gave up on free and purchased Cyberlink Power Director. It was about $70, but does everything I need and has decent tutorials. The free ones always seemed short on a few features that I wanted.
I actually asked this same question on Spiceworks and found an archived download of MovieMaker from archive.org. VideoPad from NCH is very similar to MovieMaker and really inexpensive. Adobe Premiere Elements is a great low-price paid solution.