Here is a list of the software that I use for blu ray conversion, compression, decryption and playback:
AnyDVD HD for decryption of blu ray commercial movies. Use the built-in ripper to get the movie to the hard drive. This program is relatively expensive for the lifetime version.
MakeMKV This program can decrypt blu ray movies and rip either as an mkv file or as the complete blu ray structure using the Backup mode. MakeMKV is free while in beta, and has remained in beta for many years now. The only downsides are that you have to put in a new beta key each month or so, and it isn't updated quite as quickly as some of the other decryption programs. New beta keys can be found here: http://www.makemkv.com/forum2/viewtopic.php?f=5&t=1053
One other thing about MakeMKV...it doesn't compress the movie, so your mkv files from it will be very large...almost as large as the original blu ray movie.
BDRebuilder This is a free program, originally designed to compress blu ray movies to fit onto 25gb discs. Since then, more capabilities have been added, including conversion of blu ray to mkv, mp4 or even dvd-video. You must start with unencrypted video however.
ClownBD This free program lets you select audio and video streams from a decrypted blu ray and lets you choose which ones you wish to keep. It can also accept .ts, m2ts or mkv files as input and build a new blu ray structure for you. ClownBD is a gui for eac3to, tsMuxeR and Aften.
Handbrake This is a conversion program that can take blu ray input and give you mp4 or mkv files as output. The output files will be compressed to much smaller sizes, and can be made to match specific hardware, like iPads or other mobile devices. Handbrake is free to use.
The free programs I've mentioned are not "one-click" simple. For one click simplicity, and generally less quality output, you'll need to look at the commercial programs.
For playback of blu ray movies on the computer, I would normally recommend Arcsoft Total Media Theater. They are up to version six now I believe. But most of the commercial software players with valid licenses for playing blu ray are now infected with Cinavia detection. If you want to avoid that, you'll need to stick to the free players like VLC and Media Player Classic Home Cinema. DVDFab also has a player, with limited menu support. The free players do not let you access the menus.
To burn a blu ray movie to a disc, use ImgBurn. Blu ray video uses UDF 2.5 file system, but ImgBurn will recognize blu ray video as input and ask to set it correctly for you if you have anything wrong.