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Yes you can with Avidemux(search it on google, its the 1st choice),
1.After you've installed avidemux, open the h.264 video with avidemux,
a window should popup "H.264 Detected" pick "use safe mode".
2.Select "MPEG4-ASP (Xvid4)" as your video codec and "copy" for audio codec,
click configure on video to set your prefered bitrate or encoding type
(i prefer to set it @Two Pass-Average Bitrate/900kbps/cartoon checked for anime type source).
3.Click the "Save" icon and that's it.. wait for it to finish encoding.
-Note- It also helps to down sample the video bitrate/resolution and audio bitrate/sample
to a lower rate to prevent video skipping/stutter or A/V Sync in some cases.
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