Assuming you have Python installed, you can use getyoutubecc, which is a Python script.
Execution is as follows
>> python getyoutubecc Akqkvx407c8
Then keep the video and .srt in the same folder and you should be able to play in VLC.
For a non-technical way try one of the conversion sites such as http://mo.dbxdb.com/, which will download the .srt within a zip.
![Open file in menu](https://i.stack.imgur.com/jEVY4.png)
Select the track from the zip file
![Select the track](https://i.stack.imgur.com/RuqPJ.png)
And then you should see the subtitles appear
![Subtitles at the bottom of VLC screen](https://i.stack.imgur.com/Ng9QQ.png)
For videos with multiple tracks you will have to dig in and save it from .xml to .srt manually, there isn't a ready made tool out there on the web
http://video.google.com/timedtext?lang=<LANG>&v=<VIDEOID>
Where can be en
for English, it
for Italian and de
for German.
<VIDEOID>
is the id of your Youtube video.
For some videos, it appears necessary to specify the name of the subtitle track, as seen on the Youtube page of the video, as a third argument:
http://video.google.com/timedtext?lang=<LANG>&v=<VIDEOID>&name=<NAME>
Best Answer
If you are trying to add subtitles to the video being played, you can use the chrome extension YouTube SubTitles
This plugin allows to attach .srt files to the YouTube videos.
If the videos are uploaded by you on your account, then you can use Youtube video editor to add captions. You can upload srt, sub etc. files for captions.