One of the most simple, yet important, ways that we rig soft plastics is the Texas Rig. It's a rig that is essentially weedless, has excellent hookup ratios, and works with virtually any soft plastic. It can be used in nearly any situation in bass fishing; it's the most essential rig we use fishing plastics, and it's a necessity to know it.
There are many variations on the Texas rig, in terms of having a bead, or pegging the sinker, even weightless. Some folks prefer to add a bead to protect the knot at the terminal connection, I'm one of those people. Tungsten sinkers are very hard, and when repeatedly slamming down on a knot, it can greatlyl weaken it, hence the preference to use a bead. Pegging a weight will provide a different action for the bait. When you peg a 1/8th ounce sinker on a senko, for instance, it creates a much more erratic fall than is generally had from that bait alone. Pegging a sinker when flipping a tube guarantees that the tube is going to remain compact and enter cover much easier. In the following pictures, you're going to see me rig a pegged sinker with a bead. On the other side of the coin, when a sinker is free sliding, it often allows the bait to fall in a much freer fashion, if you will, creating a much more lifelike presentation at times. With a bead, it also creates a tick, or knock, every time the bait is moved forward from the sinker colliding with the bead.
A sinker stop, or peg, is a bit confusing at first glance. Simple feed the tag end of your fishing line through the small wire loop of the peg.
Pull the sinker stop over the wire, and the fishing line that is going through it. This will double the fishing line for a short bit. As you move the peg up the line, however that tag end becomes free once again.
Feed on a worm weight, then your bead.
My preference in sinkers is definitely geared towards tungsten. They're harder, and more dense, which gives you a better feel. Most of the time I rig a 3/16 in 10' of water or less. If I am fishing deeper I will often go up to a 5/16 or even 3/8. Bass Pro Shops tungsten is economical, has a good finish, and is available in painted colors as well. http://http://www.basspro.com/Bass-Pro-Shops-XPS-Tungsten-Worm-Weights/product/10210181/ In terms of beads, I almost always use a red 6MM glass bead. They're relatively inexpensive, and I feel that red is sometimes a trigger. http://www.basspro.com/Faceted-Glass-Beads/product/2059/
My preference in hooks leans more towards the VMC than any other, right now. They've got a very unique hook eye that is entirely closed off, which is a huge benefit to those anglers that are fishing superlines. The joint is resin coated which eliminates any chance that your line can slide through that joint. It also means that the line cannot be weakened from being knicked by that joint. They're also a pretty good price- http://www.basspro.com/VMC-Heavy-Duty-Worm-Hooks/product/12060205055432/ Most of the time, I use a traditional round bend worm hook, as is shown in the photos. I do use Wide Gap or Extra Wide Gap hooks for larger, more bulky baits like creatures and tubes. If your preference is to use EWG hooks, that's absolutely fine. When sizing hooks, the most important aspect is that there is adequate gap when comparing your hook gap to the thickness of the bait. If there is inadequate gap, you'll nearly never hook fish.
Generally, I tie a pitzen knot with almost all of my lines. It's easy to tie, and it works very well with fluorocarbon and braided lines. If you choose to use a Palomar knot, that's a good knot, too. Regardless of what you tie, make sure you tie them well. A good, well tied knot should look pretty, if you will. All the wraps should lay beside one another, and never over or on top of one another. Good knots are important.
The Palomar can be found here: http://www.basspro1source.com/index.php/component/k2/item/323-palomar-knot
The Pitzen can be found here: http://www.netknots.com/fishing_knots/pitzen-knot
Trim the tag end of the knot to be, roughly, 1/8 of an inch long. In this picture you see the three major components of the rig; worm weight, bead, and hook.
When rigging your worm, you can do it the easiest by inserting the hook to the point that it is just beyond the barb of the hook, then out the bottom of the bait.
Turn the hook back on itself, and insert it back in to the worm. If done correctly it will not protrude through the worm, but you will be able to just feel the point of the hook under the surface.
The completed rig should look like this. The bead, sinker, and stop aligned; the worm straight on the hook and not pulling or stretched.
For a primer on colors, and whay we choose them, check out this post, too. It provides good insight on the choices of color in soft plastics and helps to make those choices a bit easier. http://blogs.basspro.com/blog/bass-pro-shops-council-bluffs-ia/soft-plastics-color-choices-and-why