The Palomar Knot is a great general purpose knot that works great with monofilament lines and is also one of the few that work well with braid lines.
It works very well with Berkley's new Nanofil Uni-Filament line, which is extremely slick so has a tendency to slip. Just make sure to pass the working end through the overhand knot twice rather than the standard one time. Berkley calls it the NanoFil knot. Also leave the tag end longer than you might normally to compensate for any slippage.
There are those that feel this knot is best used only with heavy lines or leaders and not tied directly to lures or hooks.
I disagree greatly. In my personal experience it has proven a "first class", versatile knot which I use the great majority of time as a terminal knot for hooks, crankbaits, spinnerbaits, and jigs.
It is quick easy to tie and easy to remember.
Knot Tying Instructions
DO NOT FORGET TO WET YOUR MONOFILAMENT OR FLUOROCARBON LINE BEFORE CINCHING IT