This is a stand-alone version of the tool that is included in the K-Lite Codec Pack.
With this tool you can do things like:
scan the registry to detect and remove broken references to codecs and filters.
Generate a detailed log of all installed codecs and filters.
Enable/disable more than 250 popular codecs and filters (if they are installed).
Manage preferred source filters (a.k.a. splitters).
Reset settings