I have a short video which I have recorded from TV (less than 1 min in duration) and is 34mb in size; I would ultimately like to make this video smaller in size and into one single file (I'm not too fussed with which extension it ends up having).

I have never attempted this conversion process before and am hoping someone can advise of a converter which can not only perform this, but also save the video quality as close to the source as possible.

Due to a learning disability and poor IT knowledge could I please request that any responses don't contain technical terms. I am using Win 7.
Thank you.