I would like to know if it possible to download or extract the flash game binaries from the browser, for example, games such as the ones on kongreagate.com or luminosity (not sure weather these are in fact flash or not).. This is just for experimenting, analyzing and fun.
Firefox is probably the best suited tool for downloading elements of web pages. See this article: http://www.makeuseof.com/tag/how-to-download-embedded-flash-swf-files-using-your-browser/
In addition, there are Firefox add-ons that may help you, for instance Download Flash and Video (haven't tested it myself).
Chrome is also pretty good for this sort of thing.
Simply hit F12 to open the inspector, open the Network tab and reload the page.
It's a reasonable bet that the largest SWF file you can see being loaded will be the file you want - right click it, and copy the link address.
You can then save that SWF in a variety of ways.