My favorite type of orchid is the lady slipper orchid because of their strange appearance. They are like no other types of flowers and have pouch-shaped lips. The mostly terrestrial and lithophytic slipper orchids include four genera—Paphiopedilum, Phragmipedium, Cypripedium and Selenipedium. But most Cypripedium and Selenipedium are not plants for the beginner because they can be quite difficult to grow under cultivation unless you live in temperate regions with Cypripedium growing wildly in your back yard!
Another type of orchid you can grow at home is what I call the “Thai restaurant orchids.” These types of orchids are Dendrobium hybrids and can be found at Thai restaurants that decorate their tables with freshly-cut flowers. They come in many colors (white, green, purple, pink, yellow and more) and require a fairly warm environment. In fact, they could loose their leaves in the winter when the ambient temperature drops below 60°F (15°C) or so. But the “Thai restaurant orchid” is really just one small group of hybrids within the Dendrobium genus. Dendrobium is actually one of the largest orchid genera.
Do a finger test. This is the best way to determine whether an orchid needs more water. Stick your pinky finger into the potting mix, taking care not to disturb the orchid's roots. If you don't feel any moisture, or you feel just a little, it's time to water the orchid. If you feel moist potting mix right away, give it more time. When in doubt, you should wait an extra day.
Consider your climate. The frequency with which you water orchids is affected by the level of humidity in your climate, as well as the amount of sun the orchid gets and the temperature of the air. Since these factors vary according to region and household, there's no rule for how often to water an orchid. You'll have to develop a routine catered to your specific environment.
Masdevallia is one of my favorite types of orchids! They have triangular flowers (the petals are tiny, so you just see the three sepals.) They need cool temperatures to do well, and like a lot of humidity, but are otherwise quite easy to grow. (But they have a reputation as being hard to grow from people who've ignored their temperature and humidity requirements.)
Asking me what types of orchids there are is like asking me what types of people there are. Well, there are tall and short people, smart people and not-so-smart people, introverts and extroverts, people with different skin colors, and people from different parts of the world. Likewise, you will find many different types of orchids—different colors, species and hybrids, miniature and standard-sized, all different genera from different parts of the world. So I will narrow the question a bit, and look at it in terms of the orchids you will likely to buy and grow.
Water your orchid early in the morning. This insures complete water evaporation on the foliage as well as the crown by nightfall. If your home is very warm or has low humidity you will most likely need to water more often. The best place to water your plant is in the kitchen sink. Use lukewarm water (do not use salt softened or distilled water) and water your plant for about 15 seconds and be sure to thoroughly wet the media. Then allow the plant to drain for about 15 minutes. It may appear dry but it has had enough water. After the plants are watered, they should be placed so that the pots do not stand in water. Some people like to place the pots on "humidity trays" or in trays or saucers of gravel or pebbles and water. The pot is placed on the pebbles above the water line. This helps to insure that the base of the pot is not immersed in water, increases humidity for the plant, and provides some air circulation under the pot.

So you want to grow an orchid? There are tens of thousands of orchid varieties to choose from, in almost every color of the rainbow. Some exotic versions are rarely seen outside specialty shows, while others are readily available to the novice grower. Unlike the common stereotype, many types of orchids will thrive as houseplants, and don’t need to be kept in a greenhouse. The orchid you’ll choose to grow will depend on the environment in your home, as well as the way the plant looks.

Most orchids are not heavy feeders. Many orchids bloom year after year with no fertilizer at all. During active growth, when new leaves are being produced, you may fertilize every other time you water at half the strength recommended on the fertilizer package. However, it's important to deliver water without fertilizer at least once a month to flush excess fertilizer salts from the bark mix and avoid fertilizer burn to the roots.