While many users download YouTube videos, extracting subtitles (to perhaps be used with an encoded version of the video) is not a widely practiced concept. This is probably due to the lack of availability of YouTube subtitle grabbing applications. Youtube SRT Downloader is a portable tool to download SRT subtitles from YouTube videos. For YouTube SRT to work, the video must have a closed caption file assigned to it in order to convert the subtitle format to SRT.
Copy and paste a YouTube video URL and you will be displayed with subtitles in one or more languages (as available). The default output directory is C:\users\username\downloads\, however, you can change it if you like. Click Download to begin downloading the subtitle file in SRT format. There is no download progress bar so the result is displayed at the bottom when the files are downloaded. Since subtitle files are quite lightweight, therefore, a progress bar is not even required, as it takes a matter of seconds to download an convert the subtitle files.
Youtube SRT Downloader works on Windows XP, Windows Vista and Windows 7.