Holding the Sticks
Holding the sticks properly is very important. If you hold the sticks the wrong way, you will probably end up being stressed out.
Matched Grip 1
First, make an arch with your pointing finger. Put the stick between there. Then, put your thumb directly pararell to the middle of your pointing finger. Imagine there is a needle going through your thumb and the middle of your pointing finger. If it is perfectly lined up, that is how you hold it. Now, wave the stick around a little bit like you are gonna hit the snare by just using those two fingers. Then, put your pinky and thumb together. The deepest part of the crevice is where you will want to put the remaining part of the stick. Then, wrap your fingers around the sticks lightly. NEVER forget to put your pinky on the stick too, because the pinky is the strongest finger on your hand.
Matched Grip 2
This is the same as the matched grip 1 but instead of using the thumb and pointing finger as a pivot, use the middle of your middle finger and the thumb as a pivot point. This will allow the drummer to go faster for some drummers.
Traditional Grip
A lot of great jazz players used this grip. It started in the old days when the military were carrying snares across their sholder so it was angled and they couldn't play matched grip. They developed a new way to hold the sticks, the traditional grip.
First, find the 2/3 part of your stick. (For people that use Vic Firth's sticks, that is where the American Flag is.) Think of the fingers as a mountain, the nails are the top. Place your sticks between the thumb and pointing finger, at the bottom of the mountain. Now, to get a feel of this grip, flick your wrist inward towards your right hand, and your stick should hit your pad or snare and bounce right back. Now you've gotten the feel of it. Now all you have to do is place the rest of the stick between the middle finger and ring finger at the bottom of the mountain. Curl your ring finger and pinky in a comfortable position, and then wrap your pointing and middle finger around the stick.
Although these are 3 grips that are commonly use, be sure to use the grip that is most comfortable for YOU. Just because Buddy Rich used the traditional grip doesn't mean you have to.
Do what you WANT and what is most comfortable for YOU.