Skype: online chat, voice call software, very functional, secure and stable
ImgBurn: is a lightweight CD / DVD / HD DVD / Blu-ray burning application
CDBurnerXP: my new favourite recorder, does the job and it's functional
Putty: is a free SSH/Telnet client that I use almost every day to connect to remote servers
Notepad++: is a free source code editor and Notepad replacement that supports several languages
TeamViewer: TeamViewer is a tool that let's you connect to a remote computer which is also running TeamViewer and offer remote support. Quite handy, lot's of functions. I've been using it since it came out, and haven't looked back since.
IrfanView: is a tool that I use to resize photos, save screenshots etc. Small and useful.
VLC: is a media player that can play almost anything, even RAR'ed movie chunks and damaged files. Very useful if you don't like installing codecs and that kind of crap.
µTorrent: is a tiny and fast BitTorrent client
TED: Torrent episode downloader - does exactly what it's names states
ShutDown Timer: ever wanted to lay down, watch a movie and fall asleep without worrying about your computer being turned on all night. With shutdown timer you set the timer and that's it. Your computer turns off after the set amount of time.
Well, these are my most used applications at the moment.