Nagios is by far the best network monitoring tool in my opinion.
It kind of relies on the idea that you can set up a Nagios server somewhere other than the server you want to monitor (not mandatory but it makes sense, if the server goes down, a local Nagios will not be able to tell you about it!), then you set up periodic checks of your web server, and trigger alerts (email, sms even) when something goes wrong.
Installing Nagios on the actual server you want to monitor can also be useful as it will by default monitor the local CPU, disk space and so on.. you can set this up from an external nagios server but it involves a bit more configuration at both ends.
If you want something a little bit lighter and quicker, you could just write a script and run it on a cron to check your HTTP is responding. For instance I've written perl scripts that use curl to load a website every 5 minutes and check to make sure a certain keyword appears on the page, and if not, e-mail me.