You can make a montage from the programs already installed on your computer, it takes a couple easy steps.
You will need:
-Windows movie maker(Try getting Sony Vegas from a torrent)
-A recording program, something like Xfire.
-Patience, LOTS OF IT.
Software for high quality recording:
I found that Xfire allowed me to record high quality montages without sacrificing my FPS, you will need a program like Xfire because alot of people won't watch your montage if you are going 20 fps.
Video editing/Video effects:
I have done alot with video editing, so I would suggest that you torrent Sony Vegas Pro. It will allow you to edit the video, add sound effects, add effects, add songs to the video, and much more.
For video effects I really don't know much about it, so I'm sorry but I can't really help you there. But you could try something like Adobe After Effects, I heard that that was a really nice program that you can use to get some amazing effects.
If you need tutorials on Sony Vegas Pro or Adobe After Effects, I would suggest going onto youtube. They really have some nice tuts that can attract potential viewers.