Km player is a platey i always use this to play each and everything either its Audio or Video whether its VCD, DVD, AVI, MKV, Ogg, OGM, 3GP, MPEG-1/2/4, WMV, RealMedia, QuickTime or any other format etc. It lets you play almost everything seamlessly. I havent ran into it not being able to play any format of media files. This one is a personal favorite for me.
Mplayer is too much odd and complicated for many people . But for me ,its awesome. Mplayer basically is a command line Video/Audio player. Yes you read it right, Command line. This player is without any Graphical user interface. You can just download all the required standalone files in a folder and you an play your files straight away.This is my another favorite.
VLC media player is one of my favourite player .It can play various audio and video formats (MPEG-1, MPEG-2, MPEG-4, DivX, mp3, ogg, …) as well as DVDs, VCDs, and various streaming protocols.It can also be used as a server to stream in unicast or multicast in IPv4 or IPv6 on a high-bandwidth network
Media player classic is the player which always remind of the very old Windows media player which used to be bundled with Microsoft windows till Windows XP came out. Dont go by the looks. It will beat Windows media player by miles in performance in playing media files.Its awesome.
GOM Player is another aweosme player. It got great features and i always use it when i am not using Winamp. It got just few features less compared to KMPlayer and plays almost all the files except a few. Check it out.
Jet Audio is common in every one of us ,it can play both audio and video files. It can also be used to convert Audio , RIp CDs, Record or even burn Cds. It lets you even brodcast your music over the web.Its also good media player
Zoom Player is another player with some good features but a odd interface atleast for me. It does require additional codecs to play file and doesnt have any inbuilt codec libraries with it.
It can play any file .
AIMP2 is a great player when you want to play just Audio files. It is simple player with good feature it will play any audio file in our juke box .I like it to.
BS Player is another great player which can play both audio and Video files with ease. This also got some good configurable options especially when you are playing a Video file like subtitle synchronization.
Winamp is known by every common man and why its used by me????? its just aweomse .The latest version of Winamp is having more features and Menu along with a big skin. It may be loved by many users across the web, but for me its a big NO. I am still sticking with the minimal stuff to play my mp3 files.Its king of the player i think.