Need help on video making.

[mit5005]

I just got my video capture card and I am wondering how to compress the videos so they aren't so damn big. I was also wondering how to get sound from my camera to my computer. I got this card:

http://www.acortech.com/.sc/ms/dd/1079638510485916/9/nc/Video%20Card--TV%20Tuner/1922/3Dvision%20PV-951TF%20TV%20Tuner%20FM%20Radio^2FVideo^2FDV%20Cap ture%20Card

Here is a pic of my camera connections.