Blade

Reference

Mode:

Sequencer Mode

Tool:

Toolbar ‣ Blade

Shortcut:

Shift-K

Soft

This cuts the strip in two at the location of the click. This will result in two strips which use the same source, fitting the original strip’s timing and length.

Hard

Like Soft Blade, it cuts a strip in two distinct strips; but you will not be able to drag the endpoints to show the frames past the cut of each resulting strip.