How to convert wmv to psp or mp4 format for free?

You can try :4Easysoft PSP Video Converter
http://www.4easysoft.com/psp-video-conve...
It can:
1.Convert almost all videos to PSP, PS3 video MP4
2.Convert video/audio to MP3, WMA, AAC audio
3.All-around video editing functions
It is very easy to use.A few clicks you can finish the conversion and put the files on your PSP.
Hope this can help you.
You can have a try--Aiseesoft PSP Movie Converter
It can convert MPG, MPEG, MPEG2, VOB, MP4, M4V, RM, RMVB, WMV, ASF, QT, TS, MKV, AVI, 3GP, FLV, MPV, MOD, TOD, MP3, MP2, AAC, AC3, WAV, MID, MIDI, WMA, M4A, RA, RAM, etc to MP4, H.264, PS3 MP4, PSP Video formats.
You can download here:
http://www.mac-dvd-video.com/psp-movie-c...

DVD ripper is a computer program that facilitates copying the content of a DVD to a hard disk drive.

DVD Ripper can rip DVD to AVI MPEG WMV DivX H.264/MPEG-4 AVC MP4 MP3 WMA excellently.

pavtube is one of the best dvd rippers, It is versatile application and users can use it either to backup DVD to hard disk or to convert DVD movies to AVI, WMV, MPG, MP4, MOV, and 3GP, AAC, MP3, W4A, WMA, WAV and AC3 etc.

Hope it useful to you!
You will need a pandora battery to unbrick your PSP but not all PSPs can be unbricked if you have a PSP-2000 with motherboard TA-088 V3 or a PSP-3000 which all have motherboard TA-090 V2 then your PSP is forever a brick unless you send it to Sony to get fixed. Check out M for Mature forums as they have ton of information about this stuff.