Of the screen recording apps I have used, Telestream’s ScreenFlow is my personal favorite. While it’s Mac-only, ScreenFlow does a great job of recording desktop and iOS device displays.
Recently, I needed to blur out some sensitive information on a display. Since the callout was created several steps back, hitting the ⌘+Z key combination to undo everything wasn’t a great option.
Ultimately, I found this Telestream blog post which showed how to edit callouts using the Option key. Very handy!