New to .MKV
Actually .mkv isn't a video codec. It's a container with a video stream, usually in h.264, an audio stream, and possibly subtitle streams, which usually vary from .srt (Subrip Text, basically plain text paired with timings) format or .ssa (Subsation Alpha, similar to .srt but allows for greater styling options), all of which add up to a video file. The .mp4 and .m4v file formats can also contain h.264 video, similar audio streams to .mkv, but has limited subtitle support, usually just .srt.
Chances are really good that your .mkv files contain h.264 video, because it compresses to small files without compromising too much on quality. My favorite h.264 video encoder would be Handbrake, which allows for multiple video codecs (meaning it can encode videos in codecs other than h.264), containers, audio streams, subtitle options, etc. As Darkfeign mentioned, MakeMKV can assist in converting your disc-based media to .mkv files, however they can use other formats that aren't as space-efficient as h.264, such as MPEG-2 (DVD), VC-1 (HD-DVD and some Blu Ray), and high bit-rate h.264 video, which the program labels as MPEG-4. For the original picture and audio quality, you'll want to stop here, but if you're looking for files that are also small and look good, then you'll want to turn to handbrake to re-encode the files.
Of course, the legality of making your own personal copies of such media depends on your country, so check your laws before attempting (or just don't tell anyone, since I don't think anyone who does this for personal use and not sharing has ever been prosecuted, knock-on-wood).
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