A:Answer Any kind of 16 gauge speaker wire will be perfectly fine. As for banana plugs...that'll depend on your turntable or receiver.
The speakers just plug into raw wire, and I know that my Sony STR-DH190 receiver will take raw wire too.
Either way, there are a lot of myths about 'quality' cables, etc. Don't believe everything you read.
It sounds like you're using just a decent entry level/mid grade set up as it is, so the things I recommended for ya will do just fine.