I think there is actually a program you can use to recored the video but, the old way is use a screen captureing program and recored your screen as you are watching the movie and then, edit everything but movie out. (Like I said the old way)
I've heard of programs that rip any form of video overlay, but I'm quite sure they've been pulled off the net because. As dumb as it might seem, I'm pretty sure it's illegal -.-