XSplit Broadcaster is a desktop application designed to make your multimedia broadcasting and...
XSplit Broadcaster is a desktop application designed to make your multimedia broadcasting and recording a lot easier and more fun to do. With its live output broadcasting feature, you can self-produce video broadcasts, conferences, distance learning courses, campus-wide newscasts, game broadcasts and more. More Info »
Here is the alternative : http://painfroi.blogspot.com/2012/02/xsplit-free-alternative.html
Open Broadcast Software has now been released in alpha, and it's free and open source. It is significantly better than both Xsplit and FMLE. Definitely give it a shot!
Here is another xsplit alternative:D3DGear, http://www.d3dgear.com