FontCreator is a very useful font creator and editor that comes in different editions - home, standard, and pro. Obviously, they differ in cost but almost all of their features, such as font formats, remain the same. Only the home edition cannot be used for commercial purposes, and the rest have some differences in the outline editing, advanced typography, and quality control features.
The program is very easy to use and if you are not familiar with the concepts of TrueType, OpenType, and Web Fonts, you can take a look at the user help for information about these and how to operate the program to the full. Still, you can begin by directly creating a new font. For this, you have to give it a name, select the font style, and the program will show the Font Overview window immediately. Here, you will see sample characters with light grey outlines, but you have to glyph data to each one because they are empty. By double-clicking on a desired character, you can edit it - in the Glyph Edit window - and outline the contours or use free draw style. If you want to see the results, you can use the Test option.
Among other useful options included, you can create single or multi-color glyphs with the Palette option, use the transformation toolbar to reposition, resize, move, or skew a glyph; you can use the Glyph Transformer wizard to modify the scripts, and a Font Validation wizard which helps you to validate all glyphs and fix or detect problems.
In short, this versatile program includes many tools that will help you compose and install your own and unique fonts.