If you download Videos from sites such as Youtube, Dailymotion etc, you will notice that they are in FLV format. FLV Extract is a freeware that will let you extract Video and Audio from FLV files without any decompressing or re-compressing.

There are a lot of other softwares available for converting FLV files to AVI or mp3 etc. But most of the them will include a lot of choices for re-encoding etc and may take some time in the conversion. FLV Extract performs the operations quickly and the video is saved to AVI and audio to mp3. The program is simple and easy to use an requires no installation. Just drag and drop the files and it will do the rest.

If you want to convert FLV files to AVI files, then try some converter as it extracts audio and video separately. However, if you want to extract audio, then this is a very good option.