Webcam Watcher is a free online web camera browser. It allows you to watch thousands of web camera feeds from around the world on your computer. This application used to be commercial, but you can now get a free license for free and use it without any limitations.
The main window is made up of two panes. The bigger one is the one that shows the actual web cam feeds once you start a camera. On the right will be a list of available cameras. The first time you run the application, you will need to download a list of web cameras. Over a thousand cameras were added to the list when I did that. Once your cameras have been added, you can manually browse through them or use the "Find Cam" button on the toolbar to search for a specific cam. I didn't like that I had to manually start each cam to even see what they were showing. Other applications simply show you thumbnails of the web cameras and you select them based on what you see.
You can add your own web cameras to the interface by simply typing in their URL. I don't see any limits to the quantity of web cameras that you can add. There is support for favorites, which should allow you to find cameras that you often watch. I also noticed that you can set the intervals at which the application refreshe camera feeds. There is an option called "streaming" that should make the app fetch the cameras in, or near, real time. But in my testing, I was unable to see a single camera that moved even an inch.