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You could possibly use the one your ISP gave you with your internet account (yes it's weird but possible), you will need to authenticate with a user name and password though. (SMTPAuth Option) Some webhost require Authentication as well, so using just SMTP mail.yourdomain.com may not be enough.
The other obvious and more preferabel choice is to use your domain names SMTP. something like mail.yourdomain.com is usualy the general setup, check with your account details on your webhost. (SMTP Option)
When SMTP fails you can use either PHP mail() or sendmail.