Proper alignment of the golf club and your hands is crucial. When you have it nailed down, you can work on other aspects of your game, confident that you'll be able to produce more consistent swings. Without it, accurate shots will be few and far between.
When your left hand grips your club correctly, it should cover up the end of the club completely. The wrist must be on top of the grip of the club.
You can have the most natural grip in the world, but if it's not aligned with the club face, you won't get a good shot. Before addressing the ball, look down the length of your club to make sure your grip and the club face are in proper alignment. This way, when you hold the club, the face is square with the ball. [source: LearnAboutGolf.com]
If you're gripping your club with your palms, your elbows will tell you. A correct golf grip results in straight lines along your arms. If your elbows are bent, your palms are doing too much work, and your arms won't extend properly in your swing, which means less speed [source: Easy2Technologies.com].