AmCap is a free bit of software included in the DirectX SDK that allows you to record videos with a webcam.
Webcam Flix is a simple application that creates time lapse videos with your webcam. It takes images on a timer, say at intervals of 5 seconds, and these are stored. Then once all the images you need have been taken, they are put together to create an avi video file.
ChessClock is a software game clock that times how long each player is taking to make moves and can also make a time lapse video of the game.
Webcam Exposure is another bit of software from Nimisis.com that stacks images together to simulate a traditional long exposure effect.
Webcam Mugshot utilizes a webcam like a cctv. If motion is detected from, say, a burglar. Mugshot emails you with the image. If your computer is stolen, you'll still have a photo of the thief!
Webcams can be modified quite easily to capture infra-red images. Here's how.
Find out how well you're sleeping by using SleepTracker. Based on the idea of sleep cycles - that in moments of really deep sleep people are effectively paralized, whereas when they're out of deep sleep, people move in their sleep. By tracking the motion, one can discern the sleep cycles and tell you something about the quality of your sleep.
Panarama takes photos that would form 360 degrees about a point and puts them together into one long panorama.
Sculptor (beta) uses a sequence of images of an object that is rotated to create a 3d model of it.
Tracker (beta) uses stereo webcams to track an object in 3d space.