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The best form of earning money through a website is by displaying advertisements in the site. Let it be a small site with less traffic or a massive site with millions of visitors per day we can run ads.

I would say you can go for google adsense as it fast and also you will get payed promptly

Way to setup adwords

First you should select adwords which will attract visitors you can go for 'google adword suggesting tool'
https://adwords.google.com/select/main?cmd=KeywordSandbox

Create a google account from https://adwords.google.com While setting up the account you can find two options STARTER EDITION and STANDARD EDITION begginers can go for starter edition and allot a minimun bid amount, test how many visits you are getting and based on that you can gradually increase the bid amount. When your site gains popularity remove all the low paying ads and start displaying adds which got high payout and also try testing with new adwords and make your business successfull.