VLC

Homepage: http://www.videolan.org/

Download link: http://www.videolan.org/vlc

Operating Systems: Windows, Mac OS x, Linux

Description: Audio/video playback software. Supports almost all kwown  audio/video formats. Light and simple to use. Supports audio/video streaming and divx subtitles. Recommended. Portable version here: http://portableapps.com/apps/music_video/vlc_portable

Media Player Classic

Homepage: http://sourceforge.net/projects/guliverkli2/

Download link: http://sourceforge.net/project/showfiles.php?group_id=205650

Operating Systems: Windows

Description: Audio/video playback software. Supports almost all kwown  audio/video formats. No installation required. Can run from  usb stick. Light and simple to use. Supports divx subtitles. Recommended.

KM Player

Homepage: http://www.kmplayer.com/

Download link: http://www.kmplayer.com/

Operating Systems: Windows

Description: Audio/video playback software. Supports almost all kwown  audio/video formats.Supports divx sybtitles.Supports scins, A-B repeats, Favorites selection, Keyboard mapping for media center.