Webcams for Video Surveillance
A webcam wouldn't be my first choice for home security, but if you've got one already + an always on Internet connection, it's relatively cheap to set one up as a one room video surveillance system for your home (for more sophisticated purposes, i.e. multi-room, you're going to want to get dedicated security cameras and software that's devoted to the purpose of keeping an eye on the interior and exterior of your home via the Internet while you're away). For a basic introduction to how webcams can work for home security, check out CNN Money's article called Big Brother for Your Home: Use cameras and the internet to monitor your home from afar.
If you're thinking of turning your webcam into an Internet-accessible video surveillance camera, please keep in mind that this is only part of a good home security plan. Solid doors, windows, and locks for both should be first on your list of upgrades (I know, not as fun as playing with cameras via the Web), and then look into an alarm system. These things are designed to keep burglars out, not just catch them rooting through your stuff (I don't know about you, but I'd rather they never got in).
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