Almay Nearly Naked is great! It is very light and natural looking. It covers any dark spots I might have on my face and I can also put it under my eyes if they look tired. I love the stuff and it looks way better than most liquid foundations and definetly better than powder. It's about $10.
I have Revlon matte finish, and it looks really natural on me. I got it a little lighter than my skin and it still looks natural.
I think for dark circles you have to use concealor, i have horrible dark eye circles too.