Why are there so many Bible versions?

I counted fourteen versions of the Bible on my computer. I use two or three of them in my studies.  Unless you are proficient in ancient Hebrew and Greek, you will be reading the Bible  from a translation.

Here are the first two verses of Psalm 23:

King James Version  (KJV) 
The Lord is my shepherd; I shall not want. [2] He maketh me to lie down in green pastures: he leadeth me beside the still waters.

New King James Version (NKJV) 
The Lord is my shepherd;  I shall not want.  [2] He makes me to lie down in green pastures;
 He leads me beside the still waters.

Both the KJV and NKJV are literal translations of the Bible. They try to translate word for word from the original text. Modern literal translations include the New American Standard Bible and New Revised Standard Version.

New International Version of the Bible (NIV) 
 The Lord is my shepherd, I shall not be in want.   [2] He makes me lie down in green pastures,
 he leads me beside quiet waters,

The NIV is a dynamic equivalent which is an  attempt to go phrase for phrase from the original text in order to smooth out the flow of the language.

The Message  (MsgB) 
 God, my shepherd!  I don't need a thing. [2] You have bedded me down in lush meadows,
            you find me quiet pools to drink from.

The MsgB is a paraphrase. The goal is to put ancient vernacular to modern vernacular.  A paraphrase would be more appropriate for reading, than for in depth study.

There are many Bible versions because of the long history of the English language and different goals in the translation process.                   
Is one version of the Bible better for me than another version? 

For  greater readability, I encourage people to use a more modern translation of the Bible like the New International Version or the New American Standard Bible.

I have met many people who are committed to the King James Version. To these people I would ask them to check out the New King James Version because it updates some of the more archaic language while keeping the beauty of the original.

The bottom line is to find a Bible version you are comfortable with and spend time reading and studying it.