"The following are a selection of programs that work with SRT files. Some of them, such as SubRipper, extract subtitles from video to an SRT file. Others, such as VideoLAN VLC, are media players that automatically show subtitles from an SRT file when playing the related video. Use any text editor to view and edit SRT files, or the aptly named "Subtitle Tool" to perform actions like converting framerates or shifting and editing captions.
Editing: SubCleaner (Mac), SRT2SUP(Win), CyberLink PowerDirector (Win), Subtitle Editor (Linux)
Creating: D-Subtitler (Mac), SubRipper (Win), OGMRip (Linux)
Watching: Windows Media Player with VobSub plugin (Win), Media Player Classic (Win), VideoLAN VLC media player (All)"
Read more: What Is an SRT File? | eHow.com
http://www.ehow.com/about_5066018_srt-file.html#ixzz242Rvm8JR