Keep in mind, WEP - Wired Encryption Privacy, can be cracked in minutes, and should not be used.
WPA/WPA2 (wi-fi Protected Access) is the strongest available for home use.
SSID. Manufacturers normally ship their products with the same SSID set. For example, the SSID for Linksys devices is normally "linksys." True, knowing the SSID does not by itself allow your neighbors to break into your network, but it is a start. More importantly, when someone finds a default SSID, they see it is a poorly configured network and are much more likely to attack it. Change the default SSID immediately when configuring wireless security on your network.
DHCP technology is indeed easy to set up. Unfortunately, this convenience also works to the advantage of network attackers, who can easily obtain valid IP addresses from your network's DHCP pool. Turn off DHCP on the router or access point, set a fixed IP address range instead, then configure each connected device to match. Use a private IP address range (like 10.0.0.x) to prevent computers from being directly reached from the Internet.