I'm not familiar with this specific device (BlueCap DC 90 pictured here). It's a "hydra" connector that appears to allow all the proper inputs from the VHS deck into your PC.
It will probably have "capture" software with it - it should, at least - and then you'll probably use that software to (1) start a Record Session on your computer, then (2) press the PLAY button on your VHS deck, and (3) you should see/hear the video on your computer's screen and hear it thru the computer's speakers.
When the video reaches the end, you'll probably press the VHS' STOP button, then on your computer, you'll click on the STOP RECORDING session.
Your computer will then have a new video-file (probably some .MPEG2 or .MPG2 file) and there are free video-editors so you can 'chop off' the beginning and ending segments, as you desire. (When you get to that point, you can let us know more and we can provide more specific software-titles you can use.)
If the package doesn't come with Recording Software, ugh... there are generic ones available, but these devices that offer their own recording software will include all the necessary drivers you'd need. If the device doesn't have its own software, then it may be cheap in dollars but expensive in learning-curves and detective work to figure out what works and how.
(The above link says this $30 package comes with ULead Video Capture software - a stripped down version - which usually provides the basics of what you'd need. If your $10 package mentions "ULead", definitely go for the lower price!)