I am fairly new to Sony Vegas 8 - Could someone tell me whether i can highlight a individual in a video clip and track them as they move around. I edit CCTV and this function would be most useful.
No, you cannot. You would need a plug-in like Boris FX or Boris RED to do this and it requires that you load the video into Boris after adding it as an FX. Essentially, you do all the tracking in Boris and it just gets rendered as part of your Vegas project.
If you're doing CCTV editing is there any software that came with the hardware? At work we have motion tracking, etc. software that came with the camera hardware (records on to a DVR that can be access anywhere in the building via the software)
It can easily be done using masks and keyframes but it's a completely manual, time-consuming, process. It can't automatically be done without a means of tracking motion.