How to record a video for youtube(info inside)

I have an account to Youtube, and I have been wanting to do a beauty video for youtube so bad. I just got the http://vox.be/images/vox_import/OLYMPUS-FE-4000-ORANGE.jpg, camera and I am just learning how to use it. I haven’t bought a memory card yet, so I only have 50 seconds of space to record a video:(
Also how do I use wmm to like edit it and stuff? or I don’t need to?