Here is a list of the most common font types used from a survey conducted from January 2003 to August 2007.
Font type is a personal choice. Some like the generic Times New Roman, others the modern look of Lucinda Console, or the scripted style of Monotype Corsiva.
The font sets the style of the website. More decorative or artist sites might choose more curvy scripts, while those more business oriented can opt for the sleeker Arial or Georgia.
Some legibility concerns arise with some of the scripted fonts, and those with pronounced bolds.
Some fonts are just not appropriate for long texts, and might work better as labels.
And, if following the advice of the previous post, longer texts are better in dark script against light background.