Wordpress is surely a powerful CMS and much easier to use then joomla, drupal and other CMS’s because of the flexibility and availability of their plugins.
Plug ins come with all kinds of functions, I wanted to add that when installing a plugin and you get the white screen of death and are locked out of your blog and you hopefully have FTP access, try renaming the offending plugins folder, I usually add a 1 and hit rename. If that doesn’t work rename the whole plugin folder, if that doesn’t work call me 
Plug ins are very cool and most are free. Just bear in mind that most of the people that have enough talent to make a plugin are also talented enough to add malicious code and I would especially watch any ad plugins. Same goes for themes and as a general rule it’s always best to stick with the ones that are popular and trusted.
Of course everyone loves the Askimet plugin and it does make life much easier but I wanted to mention perhaps the most important plugin and that is the one I use to back up my database every 24 hrs automatically and it even emails me a copy. This plugin is critical because just when your sleeping is when a nasty script or database injection will come. It will happen and that is why you should be especially careful when testing out new plugins and themes.
Some of my favorites in order and the sites where they are available, you can also get them in the wordpress plugin repository but I added the author’s sites if you want to read up on the specifics, ask them questions etc
WordPress Database Backup
This plugin is excellent and emails me a copy of my database every 24 hrs like clockwork. If I was to get a corrupted database that I couldn’t repair, I could make a new database and import the backup file in one click .
I also use another great database plugin that let’s me optimize my database with one click
Ideally you hope that any plugin you add to your site doesn’t conflict with your server’s setup and is not a resource hog causing your page to load slow. I watch the corner tab on my browser to see if my blog hanging and to see what plugin is causing the delay. The best method is to have a friend refreshing your site and assisting while talking on skype etc to assess what plugins are not worth using. I had to remove many plugins because of errors or lag time. Plugins are great but be careful. In a worse case scenario I advise also to have a complete copy of wordpress on your hard drive, this will let you rewrite files when a plugin causes you problems and errors. Many times you can rewrite files in wp-admin to correct these issues.
So what is your favorite plug in ? Thanks for sharing and have an awesome day 
this is the do follow plugin I use but I use more then one do follow plugin to follow every link that I want followed
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WP Super Cache is my favorite.
This little baby increased the speed of my site ten fold. It may not be original, but it is my favorite. I wouldn’t run a blog without it!
I think my favourite plugin of the ones I use is actually CommentLuv. Not just because I just wrote a post about it either lol.
It’s more to do with the fact that no single plugin has made more of an impact on the feel of my blog and the community on it. Encourages so much more than traffic, and ‘The 3D Student’ wouldn’t be the same without it.
Thanks John, nice to finally meet you too
Been watching your blog for a little while but hadn’t had anything really to say before now!
The responses over at his blog blew my mind really, it’s like a whole other level of community right there.
COMMENTLUV BABY! lol
Question – “but I use more then one do follow plugin to follow every link that I want followed”
HUH?
I would have to say hRecipe is my favorite plugin.
But we all love our own children best.
all in one seo pack and google xml sitemap is best wp plugins for me.
I like the Login Lockdown plugin the most.
It makes my site secure.
Google Analytics for WordPress is a simple but useful plugin. An easy way to install the code and learn about how people are using your site. Also Redirection is a useful and easy to use plugin if you need to move or delete pages on your site and have them redirected to a different page.
Hmm this is a tough one bro, I guess I would have to say that my favorite WordPress Plugin would have to be…… drum rollllllll please.
Akismet
Sounds crazy but without that thing I would never even consider looking at my comments.
I have several of them so let me begin my list:
BackUpWordPress – I hate when the data is lost
All in One SEO Pack – SEO is essential!
EasyTube – share videos with my visitors
Skinner – everyone can chose the theme for a blog
The best wordpress plugin to me is the related posts it gives your blog the ability to build relevant internal links on each post.
W3 Total Cache and the All in One SEO Pack are my favourite plugins.
Thanks.