It is just as important to have effective log management and collection facilities so that the logging capabilities of the web server and application are not wasted. Failure to properly store and manage the information being produced by your logging mechanisms could place this data at risk of compromise and make it useless for post mortem security analysis or legal prosecution. Ideally logs should be collected and consolidated on a separate dedicated logging host. The network connections or actual log data contents should be encrypted to both protect confidentiality and integrity if possible.
Logs should be written so that the log file attributes are such that only new information can be written (older records cannot be rewritten or deleted). For added security, logs should also be written to a write once / read many device such as a CD-R.
Copies of log files should be made at regular intervals depending on volume and size (daily, weekly, monthly, etc.). .). A common naming convention should be adopted with regards to logs, making them easier to index. Verification that logging is still actively working is overlooked surprisingly often, and can be accomplished via a simple cron job!
Log files should be copied and moved to permanent storage and incorporated into the organization's overall backup strategy. Log files and media should be deleted and disposed of properly and incorporated into an organization's shredding or secure media disposal plan. Reports should be generated on a regular basis, including error reporting and anomaly detection trending.
Logs can be fed into real time intrusion detection and performance and system monitoring tools. All logging components should be synced with a timeserver so that all logging can be consolidated effectively without latency errors. This time server should be hardened and should not provide any other services to the network.