Sadly, I'm painfully new at this as well. That's actually why I'm in here too. I've only recently really been doing much in the way of recording, In fact I'm not entirely sure I'm using the right term, as I've sen these also referred to as "endec"s, but basically:
Codec:
Compressor/DECompressor: A program that takes a steam of data, and compresses it to a smaller file size and to a predetermined file container on the fly. (that's the purdy way of saying it compresses and writes the file while You record, without post work). Some codecs will compress the hell out of a stream, at the cost of it looking and sounding like total ass. Others barely compress at all, which looks great, but take up poop-loads of room. The good codecs, like the one I was going on about, can give You both; a small file size while retaining damn-near all of the picture and sound quality.
The "DEC"ompressor part comes in during the playback side of things.
Most capture programs also give You the option to make an uncompressed, or "raw" recording. This'll churn out a perfect recording of whatever You're doing, but the file size will make You shit Your pants and cry like a little girl with a skinned knee. If You're going to be doing some post-production work (Editing, adding a title, adding music, adjusting EQ) this is the way to go though, as when You're done with Your post work, You'll be re-encoding again, which would mean a copy-of-a-copy, if You had already encoded to begin with.
The mighty codec is also the reason You may end up trying to play a file back, and Your media player says "nope". Last I checked, Windows media player came with pretty much nothing in terms of codecs, so playing a .mkv or .ogg lands You in nopesville. At least until You find and install the codecs. I use other media players, so I may be out of the loop here, though.
Beyond this, You need to be savvy in what settings You dictate as well. How many frames to capture, output file type, quality level, and a whole lot more. You could be using a great capture program, with a great codec, and screw the pooch setting-wise, and end up with a truly crappy recording. Even minor tweaks to Your recording settings can have a pretty major impact on quality and size. I tried to record from a 60 fps source with a 40 fps limit...... Bad idea. I ended up going either 30 fps for a smaller file, or 60 fps for better quality.
I'm pretty sure Sven_The_Slayer does minecraft and starmade recordings, he'll know more.
And as much as I hate to admit it, Tomino Sama would be the guy to talk to, as He records, post-works, and uploads starmade stuff constantly. If anyone knew what to chose for recording Starmade, it'll be Him.
Also, If You're looking to upload to Youtube, be aware that Your file will, in the process of being uploaded, go through another encoding process. So uploading Your best quality file with as little over-compressing or re-encoding is recommended, to avoid the copy-of-a-copy situation. Uploading a high quality file will however, take longer........ It's like some kind of satanic balancing act.