You can use mencoder. For example:
Code:
mencoder -o test.avi -ovc x264 -v tv:// -tv device=/dev/video0:driver=v4l2
Just hit ctrl-c when you want to stop.
Recording with audio example:
mencoder tv:// -tv driver=v4l2:device=/dev/video0:forceaudio:alsa -ovc lavc -oac mp3lame -lameopts cbr:br=64:mode=3 -o test.avi