Live microphones have been designed with one specific thing in mind. And that is for live purposes. Sure, they are found in studios all over the world and vice versa. However, their primary function is to amplify sound for performances.
There are a lot of different types of of microphones. Which include handheld, headset mics and lapel microphones, just to name a few. They also range from very cheap all the way up to expensive. Having said that, the classic and industry standard vocal microphone for live is the SM58 by Shure. It is reasonably priced and known to be one of the best live microphones.
However, live microphones are not only designed for vocals. There are other microphones out there made for instruments. For example, guitar amps or brass instruments need to be mic’d up too. For this purpose, a microphone such as the Shure SM57 is an exceptionally popular choice.