Your choice of software really depends on what you plan on shooting and doing with your photos and videos. If you get really serious, Photoshop/Bridge/Lightroom is your best bet. Even if you routinely use Lightroom, almost all high end photographers still use Photoshop, as there are adjustments that cannot be made in Lightroom. Plus Lightroom uses a catalogue/data base to keep track of edits.
If you are shooting a lower end camera and are basically posting to Facebook, Elements, iPhoto, and manufacturer's software will work fine.
In video, at the high end are Adobe Premiere Pro. Complicated to learn, but very powerful. I have also used Movie Maker, iMovie, and they work fine, but are not as powerful as Premiere Pro. If you use a GoPro, their software editing program is actually very good. There is even a correction toggle that helps eliminate fisheye distortion. Tough to work with multiple sound tracks, however.
Hope this helps. Best thing is to learn how to shoot correctly, and minimize post-processing time.
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---------- Post added October 5th, 2014 at 06:01 AM ----------
@ Tigerman: Regarding HDR photography. I quit using Photomatix after CS6. Got to where Photoshop's processing seemed as good. Also, I have tried making HDR photos underwater by taking the original image, then making copies a half stop above and below the original. Results are usually marginal, but every once in a while a nice result.
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