Bare wire, banana plugs, spade lugs.. .Sound wise it doesn't matter.
Bare wires wrapped around the terminals are THEORETICALLY the best method because there is one less junction in the signal path. In the real world however, the sound differences are not to be heard. The down side to bare wires is the possibility of one single teeny weeny wire getting loose and shorting out the whole system, the odds of which are exponentially increased as the distance between the connectors decreases.
IMNSHO, I couldn't live without banana plugs, particularly when dealing with the back of a modern HT receiver where real estate is at a premium.