Visual Web Developer 2008 is what I use (its free), with Notepad++ for the PHP. However, if .NET 2.0 ever gets set up, I'll switch to the programming language meant to be used in this program, ASP.NET.
Best free HTML editor and CODE editor would be Notepad++, If you want a WhatYouSeeIsWhatYouGet editor then i would go for Dreamweaver (CS3 if your really posh, or MX if your more of a classic) - if you are on a tight budget though you can get MSOFFICE 2007 or 2003 with Frontpage.
You cant get any free WYSIWYG editors that are great - Dreamweaver also supports ASP, PHP, HTML, ASP++, ASP VB, JavaScript, JSP.