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Subtitle Edit is a free editor for video subtitles - a subtitle editor.With SE you can easily adjust a subtitle if it is out of sync with the video and much more.

Features:

Create/adjust/sync/translate subtitle lines
Convert between SubRib, MicroDVD, Advanced Sub Station Alpha, Sub Station Alpha, D-Cinema, SAMI, youtube sbv, and many more (200+ different formats!)
Cool audio visualizer control - can display wave form and/or spectrogram
Video player uses DirectShow, VLC media player, or MPlayer
Visually sync/adjust a subtitle (start/end position and speed)
Auto Translation via Google translate
Rip subtitles from a (decrypted) dvd
Import and OCR VobSub sub/idx binary subtitles
Import and OCR Blu-ray .sup files - bd sup reading is based on Java code from BDSup2Sub by 0xdeadbeef)
Can open subtitles embedded inside matroska files
Can open subtitles (text, closed captions, vobsub) embedded inside mp4/mv4 files
Can open/OCR XSub subtitles embedded inside divx/avi files
Can open/OCR DVB subtitles embedded inside .ts (Transport Stream) files
Can open/OCR Blu-ray subtitles embedded inside .m2ts (Transport Stream) files
Can read and write both UTF-8 and other unicode files and ANSI (support for all languages/encodings on the pc!)
Sync: Show texts earlier/later + point synchronization + synchronization via other subtitle
Merge/split subtitles
Adjust display time
Fix common errors wizard
Spell checking via Open Office dictionaries/NHunspell (many dictionaries available)
Remove text for hear impaired (HI)
Renumbering
Swedish to Danish translation built-in (via Multi Translator Online)
Effects: Typewriter and karaoke
History/undo manager (Undo=Ctrl+z, Redo=Ctrl+y)
Compare subtitles
Multiple search and replace
Change casing using names dictionary
Merge short lines/split long lines
Export to PNG images (+bdn xml), Adobe Encore FAB image script, VobSub, Blu-ray sup, EBU stl, PAC, and plain text