This is a good question. What do physicists mean by the term "free fall"? A physicist would say that an object is in free fall if the only force acting on it is the force of gravity. So if you throw a basketball in the air, ignoring air resistance, while the basketball is traveling in its familiar arc (first going up before it comes back down again) it is in free fall for the entire time.
Notice that "free fall" doesn't mean that something is falling. I cannot stress this enough. Even while the basketball is traveling UP, it is in free fall! Free fall has nothing to do with the velocity at which something is traveling. It only has to do with the acceleration of the object.
The basketball travels at multiple different velocities along its arc, but the entire time it is accelerating downward at $9.8 m/s^2$. In fact, all objects in free fall accelerate downward at $9.8 m/s^2$ on the surface of the earth. The reason that you, sitting in a chair right now, are not accelerating is because you are NOT in free fall. You chair is pushing up against your bottom with enough force to keep you stationary.
If you we to go very far away from the earth, the force of its gravity would grow weaker. Therefore, if you were to travel extremely far away in outer space, very far from all other massive bodies, such that the force of gravity on you was negligible, you would indeed be in free fall. However, the forces of gravity acting on you would be minuscule (basically $0$). So yes, you would be in "free fall," but you wouldn't have any appreciable acceleration.
Having said that, if you were far out in outer space, you could still travel at some velocity. By Newton's first law, an object with no forces acting on it will travel in a straight line with a constant velocity. That is indeed what would happen in outer space.
Now what about the International Space Station (ISS)? It is orbiting around the earth. While it is a little further away from the earth than we are, it is still pretty close, and the acceleration due to gravity on it is far from negligible.
Some people say that ISS is in free fall. Why do they say that? Well, there are no forces acting on it other than gravity! So by definition it is in free fall!
But if earth's gravity is always acting on the ISS, why doesn't it ever fall to the ground? The reason is that it is traveling very fast.
Isaac Newton himself conducted his own little thought experiment. He imagined what would happen if you mounted a cannon very high up and shot a cannonball out of it. (This is called Newton's Cannonball.)
If the cannonball was shot at normal speeds, it would fall back to earth. However, as he visualized, if you shot it fast enough, it would begin orbiting earth! Therefore, he realized that things orbit each other due to gravity! This is why the earth orbits the sun (the earth is in free fall around the sun) and why the ISS orbits the earth (the ISS is in free fall around the earth).