Yes, there are so many options out there. As someone who recently started spending more time "seriously" observing than in the past, I've done the bino dance. In the last two months, I've bought a 16x32, 10x50, 12x42, 10x42 (for my wife), and 12x50. I've currently settled on the 12x50s, although I do think about getting a complementary 15x56 in the future.
My best advice would be 1.) to try a range of sizes, magnifications, and styles (porro vs roof) to figure out what best works for you. Afterward, I would 2.) choose a pair with a no-fault lifetime warranty, as tomykay12 stated. Binoculars are fragile, and there are companies that will replace your binoculars due to damage even if it occurs year after purchase. This can save you hundreds or even thousands in the long run.
And as many noted, the choice is very personal. You'll read up and down that most people can't hand hold higher than 8-10x. However, I like high magnification and I like hand-held use, so I'm perfectly happy with a 12x50. I'm even considering a 15x56, which again would be handheld. Find what works for you and go for it.
Similarly, prisms are generally 1/2 the cost of equivalent quality roofs, but experiencing even a decent roof was a transcendental experience for me; I have no desire to own a porro ever again, as I love the compact look and feel of a quality roof, and I feel I can hold them more steadily at higher mags. Maybe that's psychological, but if it leads to me holding them more steadily, it's a very real benefit.
To provide yet another example, most binoculars have an IPD range from around 56 to 72. If you come in on either extreme, that will automatically rule out 99% of binoculars for you. If you can't seem to see well through one pair after another, measure your IPD and figure out if that might be an issue.
Also remember that the best binoculars are the ones you have with you. It's tempting to get the biggest pair of eyes you can find, or the highest magnification, but if you can't use a pair because they're too heavy or too shaky to handhold, you're going to use them a lot less unless you really like tripods. This again points to the importance of trying your desired magXaperture combination before buying it and discovering it's not nearly as useful as it appeared on paper.