There are some really terrible domain names out there, but still some really great ones you can pick for your site. Here are a few guidelines to bear in mind when picking your name.1 – No numbers. If you want www.YourSite.com, but find it taken, don't use www.1YourSite.com. It may help search engines, but you should cater to people, not search engines.
2 – Stick with dot-com extensions. If you go big as "Craig's List", you'll give up tons of traffic and profit by having the dot-org, instead of the dot-com. Avoid weird ones like dot-TV and dot-biz like the plague.
3 – No hyphens. www.YourSite.com is far better than www.Your-Site.com. People don't remember dashes.
4 – If your name is available, like www.FirstLast.com, take it. If not, it's okay to add a middle initial. Use www.FirstMLast.com if it's free. Easily check availability at WhoIs.sc.
5 – Two words are better than three. www.YourSite.com is better than www.YourSiteName.com. Easier to remember, harder to mistype, and shorter, which is better. Three can still be very good though.
6 – Avoid adding "the" to your domain, if possible. If you own www.TheSiteName.com, word of mouth will goof it and go first to www.SiteName.com from your promotion.
7 – Don't be afraid to invent a new word for your name. Napster was a short, phoenetic, invented word, and everybody found it, remembered it and had no problem typing it. Besides that, you can invent a brand this way. Keep it simple, short, and easy to guess the spelling.
8 – If you're committed to the name, register for the maximum 10-years, and never sweat about losing it by forgetting to renew it.
9 – Last advice, don't pay too much. $12 is a good maximum, but always read the fine print before selecting a registrar.