Apache is definitely the most popular option and it often comes preinstalled on shared hosting plans or VPS. If you're not very technical or just don't want to get too involved in tweaking your web server config, stick with Apache. Also, because it is so popular, if there should be any problem, you will find a lot of help on the web.
Nginx is the new contender and has gained a lot of popularity in the last years. It is much leaner and has a smaller memory footprint compared to Apache. It recently hit version 1.0 and powers a couple of big sites like wordpress.com, hulu.com, github.com etc. (see Main).
I run all my websites with Nginx.
I can't comment on LiteSpeed because I never used it (and frankly, don't know anyone else who has).
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