1and1.com is currently offering any available .com domains free for 1 year and after for next years, if you wish to continue asusual similar to other domain registration providers like Godaddy they will charge you $8.99, so now you can get 1year or $8.99 worth domain for free. Also they are offering .net, .org or .us domain for $6.99 and .info domain for $0.99.
Currently it provides a free domain, but what about webhosting. If you are interested creating a website for commercial purpose you must consider about good webhosting provider which has 99% uptime. You must note that all popular webhosting sites like Bluehost provides one free (.com) domain for a hosting account.
So you can get a free domain with a hosting account from popular webhosting sites like Bluehost and if you want another domain you can get it free from 1&1.com and host it on your webhosting account.
Hurry-up, the free Offer will end by May 31st, 2010 and in registration of free domain at 1and1.com it will ask you to provide either creditcard or PayPal ID for user authentication. My suggestion is to use PayPal address and thanks to Mayur
P.S: I got a free website in my name yesterday , but it is still waiting for approval.