In the old days we would have said "boots" and dug a hard and fast line for the minimum requirements for the toughest all-leather monster. Today this topic has become much more broad. While there are still safety considerations pros and cons for many of the below options, take time to try different options and figure out the footwear that works best for you.
Shoes
Shoes are designed to support your feet and can make the difference between an enjoyable hike and an agonizing trudge. The first consideration you should have is the type of hike you are taking. Backpacking where you are carrying a heavier pack requires more support. Backpacking boots typically have a shank built into the sole of the boot to protect your feet from rocks and greater impacts due to your increased overall weight. Boots that go above your ankle can protect your ankle from sprains and provide partial protection from snake bites. Day hiking where you are carrying less weight, you would want a lighter weight shoe.
Some characteristics I look for in hiking shoes include:
Metal Bootlace Loops and Hooks provide greater longevity
Tread Material. Do your homework on the tread can allow you to be more informed in comparing boot options. Vibram or similar materials beyond basic rubber can make the boot much more stable on the trail and provide better grip on rocks.
Waterproofing. This can sometimes be overkill unless you are walking through streams often during your journeys or plan to hike in snow. Being waterproof also limits how much moisture can escape (waterproofing barriers works both ways). Limited breath-ability can also make the boots warmer on your feet.
The most important thing is to do your own research. You can find a wealth of information on the internet and in talking with other hikers. REI has a great footwear department with knowledgeable employees. Sometimes a rule of thumb with boot design is the less stitching on the boot the less points that can fail in the construction.
How do you tie your laces?
There are many ways to tie your boots so they provide the most support and don't rub while you are hiking. Some tips include:
Tap your foot to the heel of the boot before tightening the laces to help prevent the heel to rub
Tie the bottom of your boot tightly to prevent your foot from sliding forward while hiking downhill and impacting your toes on the front of the boot. On a related topic trim your toenails before a hike with a lot of downhill incline to reduce the risk of bruising your toenails.
Before lacing up the ankle tie surgeons knots to lock in the bottom tightness to reduce heel slip and forward sliding.
Resist removing your boots on the trail while hiking as your foot may swell once removed from the boot making it difficult to put them back on to continue the hike.
Don't hesitate to adjust your boots during the hike based on what you are experiencing.
Address hot spots immediately with mole skin or other blister prevention.
Socks
There are so many options for socks these days. Remember that socks and the boots make up your footwear system and that wearing your hiking socks when you purchase boots is important to make sure they are the correct tightness.
The most important consideration is for the sock is to pull moisture away from your foot to prevent blister causing friction. They also provide cushioning and warmth. Similar to boots doing your own research is key. You can find a wealth of information on the internet and in talking with other hikers. Find the material, thickness and system that works best for you and don't hesitate to try new combinations to make the experience better and more enjoyable.