Many people come to me asking which microphone is better: Condenser or Dynamic? This question is almost impossible to answer without knowing what the application is and where they will be using it. These two styles of mics are fundamentally different, and each has their own purpose.
Condenser mics have a greater frequency response and are much more sensitive and full sounding than dynamic. These mics will pick up more sounds in the room and around the mic, which is ideal for recording sound from a group of singers, or the nuances of a single vocalist or acoustic instrument. But they can be a problem in a live show as they will pick up unwanted background noise, or be overly sensitive to the variations in volume.
There are two types of condenser mics, large diaphragm and small diaphragm, large diaphragm condensers have a warm sound and are the preferred choice for recording vocals, while a small diaphragm mic is used to get a wide range of frequencies and are great when recording a group of concert players. Condenser mics are also more vulnerable to damage from being dropped, and are considerably more expensive than dynamic. That's why most condenser mics are used in recording studios and not on stage. Additionally, condensers require power called "Phantom Power" to be delivered to the mic from a mixer or external power source and thus can be used only with the right equipment.
Dynamic mics are common stage mics, since they are usually less expensive and much sturdier than condensers. They can take a beating and still work fine. The dynamic mics also pick up sound at a shorter range and have narrower directional pickup, so the singer on stage needs to be closer to the mic to get a good sound but will deal with less bleed and background noise in his or her signal. No additional power is required for a dynamic mic, and thus it can be more portable than a condenser.
So when you decide what your primary purpose will be with the mic, you can decide which type is your best choice.
Condenser mics give you better quality sound and are preferred in recording studios while dynamic mics are more rugged and work best on stage.