I tried Google Adsense program after I got an idea about it from problogger. Since I had no or meagre webdesigning skill, I found it difficult to place the ads, but as time went by it became an easy task. The problem with Google Adsense was that they paid only after $100 accumulated in my account. I had to wait some time for my first payment, I even doubted whether I would get it. But I got the first payment and it got me going. I would recommend Google Adsense to any of my readers who are looking forward to start a blog.
Infolinks is a text based advertising program, which shows links on specific text. The payment per click is satisfactory and above average.But the disadvantage is that text linked advertisements have lesser payment, so you will have to have a huge audience for a satisfactory campaign.
Text Link Ads
As the name suggests Text link ads is also a text based advertising program, the payment is satisfactory and comparable to Infolinks, but the approval system is it tough.
Adbrite is contextual advertising program similar to Google Adsense, but the payment per click is very low. I have tried Adbrite, but the results were not satisfactory, so I avoided it altogether.
There are many other advertising programs available for web publishers, some like Yahoo Ads are known to give good payment to publishers, be sure to try them out too.