Which codecs do I need for MPC-HC & where to install them

I don't know anything about codecs but I know I need them to play videos on my computer. When I search online to solve a problem, such as, subtitles not displaying I find that I should have a certain codec but I don't know where to find them or where to unpack zipped files when I do get them. What folder do I put them in?
I have Windows 8.1 and I have had to bounce between MPC-HC and VLC because sometimes subtitles will work on VLC but not MPC-HC. I like the fact that I can adjust the timing of subtitles AND save them with MPC-HC and the picture usually looks much clearer on MPC-HC than VLC.

Download this:
http://codecguide.com/download_k-lite_codec_pack_standard.htm

It contains the latest version of MPC-HC plus all the essential codecs you need.