Actually, the bait or lure you use depends somewhat on the fishing pole you're using, as well as how patient you are.
For bass, I use a medium weight ugly stick pro, and my favorite lure is the berkeley power bait, 7 inch black nightcrawler. Gamakatsu 2/0 hook. Put the hook point through the tip and out about 1 cm lower, then twist the hook around and reinsert it , lower on the worm, so the tip is just below the surface of the worm (so you can't feel the hook point) (wish I could draw a pic for you) This makes the lure completely weedless. No sinkers at all with it, and use a lighter line (6lb). Practice outside of water reeling it in so slowwwwwwly that it looks like a real night crawler crawling on the ground to you. That means SLOWWWWWW. When you think you're going slow enough, you're going too fast. Slow down more. Then, you're trying to feel a bass inhale the nightcrawler... you'll barely be able to detect it, it won't be a hard strike (usually). Count to 3 and set the hook, HARD. With a cheapy zebco pole, you probably won't detect the strike at all. With practice, you'll be able to feel every little rock and weed in the water. I've caught many 4 lb plus bass this way, even in the middle of the afternoon on the hottest days when no one else is catching anything.
If you aren't patient, and just want to fish for quantity, nothing beats worms or night crawlers. As far as a bobber goes, I think you'll find that the pencil bobbers easier to detect bites, especially if there are waves making the bobber go up and down.
Musky? Better have a LOT of patience... you could fish all day, every day for a week and come up with no muskies. (And that's on a good Musky lake) I spend hundreds of hours fishing every year and have yet to catch a large musky (plenty of smaller, 30 inch or less sized though)
If you want to eat the fish, learn how to filet them, sunfish are a great fish to learn on (cause you can catch a lot to practice with). Plus, sunfish are an excellent fish to eat, ranked up there with walleye and crappie for the best tasting fish. (I think they're better than crappie, and can barely remember walleye, since I now practice catch and release with them)
edit: there are a lot of fishing links from
here. I'm thinking about starting to enter bass tournaments this year.