Stay away from clumsy people who knock them off tables? (Aye Darkstar

)
Seriously though, stay clear of the cheap nasty trademe ones, and stick with reputable brands like Seagate or Western Digital. You'll pay a little more, but it's worth it in my opinion for the piece of mind.
Match the drive's connections to those of your PC (i.e. don't pay for eSATA capability if you don't have it on your PC), and remember that 3.5" drives, although holding more and costing less than 2.5" ones, need an external power supply, which can be annoying.
I'd recommend using a backup app that does a full backup the first time you use it, and then only backs up the things that have changed on subsequent runs. It's much quicker that way. I use Synctoy.
Lastly, and probably most importantly, back up at a regular schedule, and
store your hard drive out of the house (in a shed or something), or better yet, at a mate's house, at work etc.
There's no point doing it if you leave it on top of your PC, and there's a fire/burglary/act of God.