The type of microphone that you choose should be decided by its application – Live or Studio. Beyond that, trying out as many different microphones as you can to find the one most suited to your voice and style of music is the best way to find the best vocal microphone for you.
Live Vocal Microphones
A live vocal microphone needs to have a good sound quality, be rugged enough to get knocked around on stage, survive episodes of feedback and perform consistently in any environment.
Dynamic microphones are a relatively simple design of microphone and fit this description perfectly. They are relatively inexpensive and are the most widely used microphone for live vocals.
Studio Vocal Microphones
A studio microphone needs to have excellent sound quality, but doesn’t need to be rugged in the same way that a live microphone does. Condenser microphones are much more sensitive than dynamic microphones; however the relatively safe studio environment suits them perfectly.
Of course there are occasions where dynamic microphones can be used in the studio and where condenser microphones can be used on stage, however for the reasons outlined above; there are good reasons why most people use them in their more typical environments.
Ultimately, when choosing your vocal microphone, follow the rules above, but try out as many different varieties of each microphone as you can to find one that suits you. Think about microphones like musical instruments, each model has a slightly different characteristic, which will make some microphones suited to your vocal more than others.