LAV Filters are a set of open-source DirectShow filters, aimed to eventually replace the better part of the playback chain required to play all and any modern media. It is a free and open source DirectShow media splitting application that's powerful, comprehensive, advanced and reliable.
Here is a screenshot to illustrate the features and user interface of this application:
Shark007 Codecs
x264 Video Codec
DivX Codec
K-Lite Codec Pack Standard
K-Lite Codec Tweak Tool