Here are the steps:
1: Open Window Movie Maker
2. Click on Tasks, see the right side of the screen, There is an option for import video. Click on import video and then find where your video is located, select your video and click on import. (it might takes few minutes to upload your video file to windows movie maker.
3. Click on Tasks again and see the right side of the screen there is an option "Save to my computer", click on that then name the file and choose the location where you want your file to be saved, and hit next and next again. It will take few minutes to finish.
4. After completion of conversion click finish. Go to location where you saved for your video files there is your compressed file with wmv file extension. Less data same quality.
This is one way of archiving video files.
(example is based on windows movie maker on window 7 operating system. You may have different options for importing and saving on different OS of windows )
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