Runtastic, endomondo, runkeeper, nike+ running, ... The list goes on. I use Strava. It gives you all the usual breakdown of distance, pace, time, keeps track of PBs, and so on. An interesting feature is that you can create segments which are portions of your run that you designate. They are then made into an automatically filled public leaderboard so you can see "Oh, my friend John Jones ran down Hill Street faster than me by 15 seconds, and I'm 17th overall".
I have a Garmin watch that I run with. Most of my runner friends have Garmin watches too. The GPS in the watch is better than tracking with a phone. Phone GPS seems to give a more wobbly line on the tracks I've looked at, whereas my watch gives a rock steady track. But that's an extra £70+.