VLC is a great choice, and my #1 recommendation.
However in some files, mostly HD content, VLC will block up the picture, and even have audio skips.
Dont know if its too much data or what.
The first time it happened to me I watched the whole show with an audio glitch every 5 seconds on the dot, I thought it was the video.
After the next 2 videos did it to me I decided to experiment.
Well sure enough, HD & VLC sometimes have problems, so for backup I have K-Lite and MPC
I get K-Lite Mega Codec pack from filehippo.com, and I install media player classic ( it comes with K-Lite)
That will cover every file also, I use a mixture of both on my home PC's, with really no preference ( until one messes up!)