My current watch is a Timex Ironman Triathalon. It's not very expensive, is waterproof, has a plastic band, has some timers and alarms, and most of all, I don't care if I lose it. I've been using this line of watches for years. While they don't have an analog face with a sweep second hand, it makes no difference to me as I'm just as accurate with digital numbers as I am with a sweeping hand.
I've used a lot of different watches over the years and I'm actually pretty hard on them. I figure that I have to replace them just about every 3-4 years.
My advice for the best watch to invest in is simple: water resistant to 100m, and cheap as you can buy. I consider watches to be something that's expendable. At least those watches I wear for work... those few nice ones I have for dressier occasions don't go to work with me.