Well there's a place in the conf file to decide what you want to log, it's clearly commented there, as for knowing how many hits, you need to use a program such as webalizer which you just install on your host, I never tried it, but I think all you have to do is install it and spefify a log directory.
Just a tip with logs, it's good to rotate them ever so and so, I used to do mine every night. I would just close apache, rename it to jun11-03.log for example and open back apache and it would create a new access.log. That way, if you need to check something, you are not opening a file that is several hundred megs long. Not sure about Linux but I know in windows that's almsot impossible. Once someone hacked into my mail server and I had a 200Meg log file and I never managed to get it open, in note pad it would not let me, and in word pad it would just freeze. Thank goodness I had rotated it for the first time durring the hack attack so I ended up getting the info anyway. I should of kept record of these things, chances are the IP would match the range I always keep an eye out for here.

Hope this helps.