You can take a look at professional tools including Aegisubs, Jubler, VisualSubSync, and AHD Subtitles Maker. The second way is to type the texts line by line and sync the text to the audio. But note that these tools generate plain transcript without time codes. The audio transcription feature into Word for the web is newly-added for Microsoft 365 subscribers in Aug.
Microsoft is also making strides in auto-transcribing. Google Doc Voice-typing, YouTube Automatic Subtitles, and Subtitle Horse are great audio to text extractors. Generally speaking, there are 3 ways to get captions for your video: Subtitles are translated texts of dialogues and narratives for foreign audiences, while captions contain more elements like audio effects, relevant musical cues, etc. Note: Captions are different from subtitles even though sometimes people use them interchangeably. If you have finished basic video editing and want more touch-up, consider captioning the video. For instance, Instapage found that captioned videos on Facebook had 16% higher reach than those without. Lots of recent researches show that video with captions is more engaging and gains more social reach. Since not everyone can hear or turn on the audio while watching videos, captions become very important to improve comprehension.
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