CODEC Message have no idea what I need to do

Hi,
I just got Premiere Elements 9 as well as Photo shop 9.  Loaded it.  I can pull up previously made videos but when I go to pull up video files I get the message  this type of file not supported or the required codec is not installed.  Have not idea what a codec is and what I need to install to fix.  thanks sarah

Read Bill Hunt on a file type as WRAPPER http://forums.adobe.com/thread/440037?tstart=0
What is a CODEC... a Primer http://forums.adobe.com/thread/546811?tstart=0
What CODEC is INSIDE that file? http://forums.adobe.com/thread/440037?tstart=0
Also, For Windows (not sure about Mac) This is aimed at Premiere Pro, but may help
Work through all of the steps (ideas) listed at http://ppro.wikia.com/wiki/Troubleshooting
If your problem isn't fixed after you follow all of the steps, report back with ALL OF THE DETAILS asked for in the FINALLY section, the questions at the end of the troubleshooting link... most especially the codec used... see Question 1

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