The KMPlayer is all in one media player covering various formats. It has an extra feature to play Incomplete/Damaged AVI file, Locked Media Files while downloading or sharing, Compressed Audio Album (zip, rar) and so on. It handles a wide range of subtitles and allows you to capture audio, video, and screenshots in many ways. The player provides both internal and external filters with a fully controlled environment without grappling with DirectShow merit system. The player can set multifarious audio and video effects, control playback speed and octave, select parts of a video as favorites, do a powerful A-B repeat, remap the keys of remote interface for HTPC including overlay screen controls, change a skin dynamically depending on a media type playing, and many more. It is completely customizable thanks to a wide selection of skins and color schemes.
Thanks to SalaR for the update.