I've always wanted to record and edit together neat little videos of Spiral Knights for my (nonexistant) YouTube audience as well as for the fun of it, but I can't seem to choose which of the options would be optimal for my cruddy little laptop. So, I turned to the worst possible place to ever ask a question SK related, the ever-loving forums!
This video and this video uses Archives ripped from my twitch account when I streamed various missions for my friends. It involves use of xsplit to allow me to stream at relatively stable FPS, but poor audio quality. The audio quality being the trade-off for live commentary. (My voice is horrendous, and my jokes are unfunny, yay!)
This video is showcasing a more notable and humorous moment, with the in-game audio replaced entirely with silly music. It is also recorded using xsplit, yet the audio quality is crisper.
This video is a test run of the Fraps demo, so forgive the short clips. I enjoy the fact that this records the game audio almost perfectly, and allows me the freedom to do stuff in my movie editors to add my own soundtracks or just record whatever I'm listening to at the time. Unfortunately, it seems as though live-commentary can't be a thing with this.
And then there's this trainwreck in which I use Bandicam's demo to do a full depth, recording in-game audio clearly at a much more stable frame-rate than fraps, at the cost of a bit of discoloration in the editing process. Most likely due to an outdated or missing codec. What this one allows me to do is not only record in-game audio, it also allows for live commentary as well as post-commentary.
I'm leaning towards purchasing a Bandicam license more than the prior options, but I'm not entirely positive.
If you're using the latest version (i.e., not pirating it) there should be an option to "include external microphone". I'm not at my computer right now, but it definitely records voice if you want it to.