When everyone is panicked and unsure about the market it is often the time to buy. I know there are a lot of stocks that wont make it past the difficult times and you should not buy those. Will Proctor and Gamble survive? Will Illinois Tool Works continue to make a profit? My answer for these top notch companies is yes. How about DOW chemical or Conoco with 4-8% payouts will these go under? I say again no. The time to build a income stream of strong stocks is now.
I would suggest to diversify into a number of different kind of industry. Make sure to check out the payout ratio of the stock. The payout percentage should be reasonable and something the company can afford to maintain. I would also make sure the stock has paid out a consistent stream of dividends for many years.
The market has crashed to the point that there are some real gems. Make sure to do the proper research and you will develop decades of reliable passive income. Good luck and well riches.
If you have not done much stock research before I would recommend using yahoo finance. They allow you to look up dividend payout and the percentage of income the company uses to meet its dividend requirement. Make sure the company is sound often a high dividend is a sign of trouble. Often a company will have to cut a dividend sharply or completely if they are struggling. Stick to long term companies that have proven track record and you should do well.