While there are plenty that will work, here are the 3 filters I use and recommend:
1. The OEM filter. The actual brand really shouldn't matter be it Yamaha, Honda, Kawasaki or whatever. They all should be made by denso and are a good quality filter.
2. Mahle OC-575. This is an excellent quality filter at a good price. You can get them for around $5 on rockauto.com, amazon and a few other places. I have one screwed onto my engine currently.
3. Baldwin B1400- Baldwin filters are a heavy duty, well made filter that can be had for around $6 on zoro.com and a few other places. I have cut open several Baldwins (including the B1400) and they are way above OEM filters in quality and construction.
As for oil, I like Rotella T4 15w-40 but have tried 10w-40 from the OEM brands like Yama-lube and Kawa-lube. I have also tried the Quicksilver and Castrol Actevo from Wal-Mart and they all work just fine. I use Rotella because it is the cheapest and gives the best clutch feel. Use whatever Jaso-ma approved oil that you like and feel like paying for.