Dynamic mics will always be your go-to in high-ambient environments - think loud studios or noisy public spaces. They're relatively inexpensive, rugged, and can handle high SPLs without distorting. However, they tend to have a more "boxy" tone due to their narrow frequency response.
Condenser mics, on the other hand, capture a wider dynamic range and offer a smoother sound. They're commonly used in studios, especially for capturing instruments and detailed vocals. Their frequency response is generally wider and more linear, allowing for better nuance and clarity. But, they require phantom power and are more prone to piling up sound when used in loud environments.
Before making a decision, consider where and how you'll be recording. Will you be in a home studio or on location? Are you recording loud bands or intimate vocals? Your mic of choice should be able to handle the demands of these situations and provide the right sonic signature for your listeners.
In general, if you're new to recording or working in noisy spaces, a dynamic mic like the Shure SM58 or Sennheiser MD421 can be a great starting point. If you're in a quieter studio or looking for a more detailed sound, consider a condenser mic like the Blue Yeti or Rode NT1-A.