Of all the potted herbs I have had on my balcony, thyme is one of the few success stories. The mint plant is weedy and the culantro is needy (seriously, it needs a lot of water) but, despite my black thumb, the thyme plant hasn't died yet. In fact, it gives me far more of the herb than I can use.
Thyme has a beautiful fragrance, not just the small leaves, but also the tough, woody stem. It also dries well (although I still prefer the herb fresh): tie a bunch of thyme with kitchen twine and hang it upside down in a warm, sunny spot, so the essential oils go into the leaves. Fresh thyme sprigs can also be frozen.
In aromatherapy, thyme essential oil is said to stimulate the senses, alleviate respiratory problems, work as an insecticide and help with digestion.
In cooking, thyme works beautifully in marinades for many types of meat; I like to add the leaves to olive oil, minced garlic and fresh lemon juice to use with chicken, lamb and pork.
If I cook these meats on the barbecue, I'll toss fresh thyme sprigs (soaked in water for about 30 minutes) onto the fire, to perfume the meat. I also love to add the leaves to all types of roasted vegetable, which have been coated with olive oil, then seasoned with salt and pepper. The fresh leaves can be whisked with eggs before making an omelette, and whole sprigs can be stuffed into the cavity of a chicken or a turkey before the birds are roasted.