Gunny, believe it or not, what you're asking for is quite complicated. lol
First, there are several DVD formats. DVD+R, DVD-R, DVD+RW and DVD-RW. For reasons unknown to me, my DVD player will only play +, and not -. Or maybe that's the other way around, I don't remember. lol
As with CDs, R means you can write to it once. RW means you can 're-write' it. Truthfully, I don't even screw around with RWs. It's easier for me to just make sure my edit is complete before I burn.
The easiest way (albeit not the cheapest) is to burn it to a + and burn it to a -, that way you've got one of each. (That's how I discovered mine doesn't play -...or was it +?)
As for software, I highly recommend Pinnacle Studio 9. It's a great little program, and has more than enough features for the average home user. I've played with Sony Vegas, but I really didn't like it. PS9 is really like Windows Movie Maker on crystal meth. I don't think you'd be disappointed.
I'd pick up the smallest pacakge of +Rs and the smallest package of -Rs that you can find. Burn to each and you should be good to go.
I'm about to make it more complicated.
there are two competting dvd formats, DVD-r and DVD+R
DVD-R was the first standard to be used widespread. Old DVD players will only play this format. Use this for better compatibility.
DVD+R is the newer one and is "better". What this means is that it has higher burning speeds. It may play on less DVD players (generally older ones).
There are technical differences between DVD+R and DVD-R, but in terms of quality are generally the same.
All current DVD players being sold now support both formats.
There also is DL stuff, but I won't get into it unless you are using a double layer disc.