This is a question that many musicians (if not all) ask, usually at the start of their career.
In order to get the best and truest sound reproduction, you have to know how microphones work, the different types and where to use them (live or in studio).
First, you have to know the difference between large and small diaphragm microphones:
Large diaphragm mics are designed to pick up the lower frequencies like a male voice, bass guitar or kick drum. Small diaphragm mics are designed to pick up the higher frequencies like a female voice, the higher notes of a guitar or cymbals.