What you need to make flash-player work in Ubuntu 12.04 is not present in the official repositories. You need first to open Synaptic Package manager, go to Synaptic - Settings - Repositories - Other Software, and once you're there you should check 'Canonical Partners' entry and 'Independent' entry. There is no need to also check the Source Code packages for the same sources.
Close Software Sources window, and reload Synaptic repositories with the Reload button. Next look for and install adobe-flashplugin and adobe-flash-properties-gtk. Or you can close Synaptic and run this code in a terminal:
sudo apt-get install adobe-flashplugin adobe-flash-properties-gtk
Remove first the other flash player related packages like flashplugin-installer or similar.
If you don't really want to use flash-player you can use Mozilla Firefox which has 2 nice addons to play video without flash. One is 'VideoWithoutFLash' addon, and the other one is 'Open With' addon. You need to configure these addons after restarting Firefox otherwise they won't work as expected. 'Open With' addon, for instance, has a list of default applications which it uses when streaming video is to be played. I for one use VLC, and you can add VLC player or other player (mplayer2, xine) in the list, delete all other entries, and this way you'll be able to watch videos with vlc as an embedded player.