www.blender3d.org
It's free and does both. Powerful toolset, great modelling tools. Exporting is a bit of an adventure, but once you get it, Bob's your uncle.
Wings is also a modeller, but has no animation capabilities. I have heard good things about it.
Milkshape is also another good one. It does cost you a small sum, approx. $20, but it is also good. Not as fully featured as Blender, but it can have less hassles cause it is a low polygon modeller specifically.
Read the stickies.
Regards,
Greenlig
Blender3D - GIMP - WINXP - DBPro