Archive.org is one option for hosting video files. Potential advantages of archive.org over other external hosts include:

• a single service where video, audio, and document files can be hosted, rather than needing to use separate services for each
• non-branded players

To upload to archive.org:

• If you don't already have one, create an account, or use an OpenID identity.
• Log in.
• Click the "Upload" button to bring up the file upload form.
• Fill out and submit the form.

When your file is uploaded, it will be displayed at a URL that reflects the name you've given it, something like http://www.archive.org/details/MyVideoRecording. This URL is what you'll need to copy and paste into the Video content editing form to embed the video on your site.