Sometimes it feels like I've lived through the events of this game myself.

Favorites

Aside from [Theme of Laura](or its [Reprise], it's next to impossible to pick out a favorite song. Probably some [iteration] of Promise, Love Psalm, or Angel's Thanatos - but the [Music Box] theme is also hauntingly beautiful and thematic.
My favorite official image, thanks to the lost art of [game manuals]. It's so evocative of the game as a whole, much in the same way Theme of Laura and the opening cinematic are.

Beautiful

In Water, by far. The Rebirth ending is second, but there's a considerable gap between them. To me, it's the only one that makes the rest of the game make sense in retrospect. I'm also happy to say that the Remake introduced two new endings which are incredible, and even tweaked one of the joke endings to be even better.

Recommendations

If you're looking to play Silent Hill 2 on a computer, the game is considered Abandonware and is free to download along with some other nice resources. Better still, there's a free project that provides the best possible experience: Silent Hill 2 Enhanced Edition.
Although it didn't have vocal tracks at the time of its release, [Waiting for You] from Silent Hill 4 and [Love Psalm] from Book of Memories pay homage to Silent Hill 2, and I love them.
Silent Hill Memories (2) - An incredible resource of information, trivia, history, and media. It's been around forever. It does worry me that a lot of its media is hosted on YouTube but the webmaster is very dedicated, so they'd probably replace anything that got taken down quickly.
Silent Hill Heaven's Forums - Amazing community that's been around awhile and has seen a huge boost in activity thanks to the remake. Its parent site, Silent Hill Heaven is great, too.
KH Insider currently hosts an exhaustive collection of Silent Hill 2's music, even including tribute albums and albums inspired by the game. While the above sites also provide music resources, this has the music for actual download instead of streaming.