Well, it really depends on what you want to do.
Mk23's are just basically the Mk 14 without the slow speed setting, so IMO those are a waste of prestige.
If you like getting in very close before launching torpedos, pick the Mk18. It's wakeless (meaning it has no big white line to tell the enemy where it's going) and thus the first warning that they need to start zigzagging is that a torpedo cracks one of their ships in half. They're FAST, so you can also do follow up attacks even while they zigzag.
These IMO are the most useful torps out their (maybe Cuties are better), but they cost a lot. There's a mod that changes the cost so that all torpedoes cost 0 in the years they were used in quantity.
The Mk 14 is your general all-round torp. It has slow and fast speeds, so it's the only torpedo good for 10,000 yard attacks. Problem is it's quite unreliable with the Contact Influence setting; later in the war, they should come standard without it, though you can still turn it on if you wish.
Mk 27's are the mother of all escort killers. Homing torpedoes. Problem is, it has only a 12 knot speed setting, only 4500 yard range, and it can aquire you if you are faster/louder than another ship out there.
Best thing here is to creep along silently, ping the bottom so the escorts come rushing in. Just hide from them, but stay close, until they slow down below their massive max speed. Then fire a torpedo and (silently) go down as deep as you can, so the Cutie doesn't acquire you. A few minutes later you should hear a boom and an escort should be dead, or at the very least crippled.
Use these sparingly: they cost 500 renown, MINIMUM.
NOTE: Cuties also only work against ships that are moving as well. They can't target ships in port if you are thinking about that.
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