This should provide a good overview of what's possible with RAID. But note that many disk controllers do not support all forms of RAID.
Whilst the various RAID standards have specific applications, personally I would not recommend RAID unless you particularly need the benefits of those applications.
For example, any performamnce benefits would be marginal (at best) in the average PC.
Also, protection against a single hard disk failure needs to be weighed against the use of extra disk space and the fact that disks are VERY reliable these days (RAID evolved quite some years ago when disks failures were more common).
In fact, RAID is generally much more appropriate for use in servers where VERY high availability is required and the impact of a system going down would be severe (e.g. an online banking system).