There are three types of media that video cameras record to: Mini DV, DVD, and now Hard Drives. IMO, the best choice at this time is Mini DV. This records up to 2 hours at best quality as an .avi format. This is the best to use for editing. DVD is nice for the ease of taking it out of the camera and playing right away, but this records as an MPEG2 which is VERY hard to edit. The Hard Drive camcorders, record as MPEG2 or MPEG4. What happens if you're on vacation? Do you need a way to save the video to make more room for more?
I have two camcorders, a really small JVC MiniDV (remember the camera in American Beauty?). However, this one has no external mic input, no manual focus, no way to add lenses, and for the videos I'm making, I need this.
Within 6 months, I had a second camera. This one has the things missing from the first as well as more manual controls. One thing to keep in mind. High Definition camcorders are not cheap or small. They need huge amounts of hard drive space for the files you upload. You'll also find that most "consumer" editing programs can't handle these files natively.
Check out this site, it's pretty good for beginners to learn a bit more about camcorders. http://www.camcorderinfo.com/
Frankly, I'd consider one of the Panasonic 3CCD camcorders.