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Undoubted vBulletin is the best forum software. With its years of experience and great support has made it the best forum software. vBulletin is paid forum script but it is worth to its value.
You can find lot of vBulletin templates by third party and lot of support from vBulletin and other places. Most of the successful form use vBulletin.
Invision Power Board
Another popular paid forum software. When ever vBulletin is compared it is compared to Invision Power Board. It also comes with lot of features, good support and great resources. There is self hosted and hosted version of IPB.
There is a free hosted version of IPB. You do not get script instant of that you can start your own forum on there domain.
Simple Machines Forum
Another popular free forum script. SMF great feature is its integration with other popular script. It is also widely used forum script with lots of support and resources.
bbPress – If you are known to WordPress then you must know bbPress by creator of WordPress. Backed by powerful development team and good support can make anyone to choose bbPress.If you are looking to integrate WordPress and forum software then these can be your first choice. It is a powerful forum script which must be conceder while choosing forum software.