From the website:
Macromedia Captivate (formerly RoboDemo) automatically records all on-screen actions and instantly creates an interactive Flash simulation. Point-and-click to add text captions, narration, and e-learning interactions without programming knowledge.
You can find out more at the Captivate product page…
… or, for those of you short on time, check out this recorded Breeze Live presentation which spells the whole thing out, including a demonstration.