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it is possible it depends on wheter your using a windows or mac
The is a copy of the file in your browser cache, but you will need a FLV (FLash Video) player - many good ones on the net for free. With IE7 my cache is found at
C:\Documents and Settings\Compaq_Owner\Local Settings\Temporary Internet Files
Two notes. You must turn on the 'show hidden files and folders', and YOUR Owner folder will have a different name (unless you also are bearing the shame of being a Compaq owner).
I understand there are programs that capture it more directly. And also converter programs that turn an FLV into other formats.
Very easy for you with E.M. Youtube Video Download Tool.
It works very well and easy to use.
(1)Install and Run E.M. Youtube video download tool.
(2)Play the video on the webpage.
when the video start to play , it will be sniffed and downloaded automatically.
http://www.effectmatrix.com/Youtube_video_download_tool/index.htm
(1)Download youtube video fastly and easily;
(2)Burn Youtube video to CD/VCD/SVCD/DVD disc;
(3)It can search any flash video from many websites at the same time;
(4)Convert flv video to any audio include mp3, wma,wav,ac3,mmf,amr,ogg,aac..., to any video formats include 3gp,avi,wmv, mpg,mpg4,asf,swf,h264,mov,jpg, that can be supported by PSP,iPod,iPhone,Apple TV video,iTune,mp3,mp4,Zune,Cellphone,Digital camera,DV,CD/DVD/VCD/SVCD.
(5)List all cache flv video;
(6)It can also repiar and capture RTMP video streams.



Can you download youtube videos?
Can You Download Videos On Youtube... ??