This topic maybe the third most flooding object in my inbox.There are many big names in this category like urchin(Now Google Analytics), Sitemeter, Statcounter. etc. So lets start reviewing them one by one

Google Analytics
A very powerful tracker.Gives you all soughts reports. I recommend this for professional webmasters as Google Analytics gives you all soughts of reports from Marketing tools to Site Overlays.Their is no such limit on your usage

Where it wins it?
Free, Fantastic Graphics and Google Powered.
Where it loses?
um..... very complicated for a begineer

Statcounter
A very simple, instant and easy to use tracker. It has also got some options that suits the logs of an big organisation's website .
Where it wins?
umm.. its basically less complicated than Google Analytics.
Where it loses?
Limited free Log size

Last of all I would like to mention my favourite tracker. Any guess? No not Sitemeter its MyBlogLog.

Reasons::

Gives you three stats, where readers came from - what readers viewed - what readers clicked.
This helps me a lot as my site offers templates.I can come to know which template you ere looking for ( In Google) and which template you downloaded.{Currently, most downloads are of Minima White }Gives in a sought of feedback. Plus an inbuilt community for blogs which offer in a sought of social networking(Psst.. you can view/join my community here } plus some cool widgets like most popular outgoing link and recent readers.


Although I have installed all three of them because each one has an special feature