In the dark and mysterious world of transcription, well not really dark and mysterious just needed to make it a little more exciting than it really is, the most common software used by transcription typists is Express Scribe from NCH SwiftSound. This is great software for two key reasons, 1) it is free $0 2) it is Australian made, NCH Swift Sound are an Australia company based in Canberra.
Primarily because of key reason 1 above this makes it very popular with the army of Virtual Assistants (VAs) around the world who like to include transcription in their portfolio of services offered. Sure on its own Scribe works really well and for some, especially those with no transcription experience, having no footpedal is not a big deal. But for the serious transcriptionist or for people converting from analogue transcription kits (ahh those trusty Pearlcorders), a good reliable foot pedal is a must.