which is the best method to serch data based on user parameter?

Hi,
Can any body tell, which is the best approach to search ceretain records by getting user parameter? say, suppose i have a procedure having 50 input parameter, based on this parameter i need to execute a query, there is some chances that, parameter will not have values. The approch we can do is, create dynamic query and pass the paramater in the where clause, or create query by passing '%' value. Rather thann this, any body suggest best methos to search certain items?
Thanks
Ajith