Well, there has been many questions here asking for "The Best Security Security Software", unfortunately there's none which can protect you 100%.
So here i've compiled list of security software's which can be used to protect and disinfect your system in categories of functions.
I'll keep it simple to ensure it's understandable for novice users up to advanced users.
Anti Virus-Avira AntiVir Personal» Click to show Spoiler - click again to hide... «
*No Behavior Analysis/Detection.
*Detection rate of 99.8% according to the Aug, 2010 On-demand AV Comparative Test.
*ProActive Detection of New Malwares is 59% according to the Aug, 2010 Proactive/Retrospective AV Comparative Test.
*Potentially Unwanted Application(PUA) Detection is 99.3% according to the Nov, 2010 PUA AV Comparative Test.
-Avast! Free Antivirus» Click to show Spoiler - click again to hide... «
*It's like a security suite/internet security but without its own Firewall.
*Includes Behavior Shield
*Detection rate of 99.3% according to the Aug, 2010 On-demand AV Comparative Test.
*ProActive Detection of New Malwares of 43% according to the Aug, 2010 Proactive/Retrospective AV Comparative Test.
*Potentially Unwanted Application(PUA) Detection is 96.9% according to the Nov, 2010 PUA AV Comparative Test.
-Microsoft Security Essentials» Click to show Spoiler - click again to hide... «
*Includes Behavior Analysis/Detection.
*Detection rate of 97.6% according to the Aug, 2010 On-demand AV Comparative Test.
*ProActive Detection of New Malwares of 52% according to the Aug, 2010 Proactive/Retrospective AV Comparative Test.
*Potentially Unwanted Application(PUA) Detection is 92.7% according to the Nov, 2010 PUA AV Comparative Test.
-Panda Cloud Antivirus » Click to show Spoiler - click again to hide... «
*Cloud based protection(Internet Connection Required)
*Includes Behavior Analysis.
*To ensure you're system is protected Offline as well, run Optimised Scan / Full Scan while online and it will create a Local Cache on the system.
*Haven't been tested by AV Comparatives
-Comodo Internet Security Premium» Click to show Spoiler - click again to hide... «
*Fully fledged Internet Security(Antivirus, Firewall, Defense+, and Sandbox)
*Recommended to advanced users.
*Be prepared for many pop-ups

*Read
Install & Configure Firewall (5.3 / 2011) for Max Protection & Min Alerts to configure C.I.S.P.
NOTE!: *Only use ONE on your system.
: *If concerned about 0-Day Malware Threats Advisable to go with Avast!/Microsoft Security Essentials/Panda Cloud Anti Spyware/Anti Malware-MalwareBytes' AntiMalware» Click to show Spoiler - click again to hide... «
*Free version can be used as On-Demand Scanner to Scan and Remove virus/trojans/malwares/rootkits missed by the Antivirus.
*Paid version offers real-time protection and can be used to complement any Antivirus.
-SuperAntiSpyware» Click to show Spoiler - click again to hide... «
*Free version can be used as On-Demand Scanner to Scan and Remove virus/trojans/malwares/rootkits missed by the Antivirus.
*Paid version offers real-time protection and can be used to complement any Antivirus.
NOTE!: You can have both on your system as the free version doesn't provide real-time protection
Firewall-For normal users, it is advisable to use the built-in Windows Firewall which is sufficient especially the ones in Windows Vista or 7.
-For Advanced users and would love a firewall wit HIPS I would suggest the following:
-Comodo Firewall-PC Tools Firewall PlusMisc. Security Software-Prevx SafeOnline 3.0 Facebook Edition» Click to show Spoiler - click again to hide... «
*Cloud Based
*Same as the paid version of Prevx SafeOnline 3.0
*Can be used as second-opinion scanner for your downloads
*Provides real-time detection of malwares however only removes adwares. Paid Version is needed for full removal.
*Blocks Malicious Sites
*Protects from Keyloggers.
*Click the above link for more information.
-Sandboxie» Click to show Spoiler - click again to hide... «
*Run applications in virtualised sandbox environment protection your system from harm.
*32-Bit ONLY
-Spyware Blaster» Click to show Spoiler - click again to hide... «
*Provide Immunisation for web browser, blocking malicious sites.
*Not running in Real-Time, so no memory is consumed.
Free Antivirus Comparison Chart by Brandon2010 (Forumer from Wilderssecurity.com)
Updated on 13/3/2011 (10:15PM)
References: To get test results and information on the security softwares.
AV Comparatives
(Link)Wilders Security Forum
(Link)NBR Security and Anti-Virus Forum
(Link)This post has been edited by Eugene91: Mar 13 2011, 10:14 PM