There are numerous types of video tapes available on the market. Actually there are so many it can get quite confusing. The two main formats are analog and digital. There is 8mm tape, beta tapes, VHS tape, super VHS tape, digital 8, HDV, U-matic,etc.
Manufacturers are forever coming out with new formats or improvements to older formats. The goal seems to be to get more recording time on smaller tapes. There are various speeds of tape and various sizes and widths of tape. The main thing is to get a videotape format system that works with your equipment. Use something you are comfortable with and a format that gives you high quality results. Be aware that some formats are hard to find and are becoming obsolete. Also some formats are only compatible in certain machines or cameras.
Videotapes are relatively inexpensive and you can generally buy them for just a few dollars per tape.