1. USA [110]
2. China [100]
3. Russia [72]
However as you will see if you go to the link below, China had more Gold medals total than the USA, we had more Silver and Bronze.
Here are the totals : http://results.beijing2008.cn/WRM/ENG/INF/GL/95A/GL0000000.shtml
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Michael Phelps has won the most Gold Medals for 2012 Olympics and also for the 2008 and 2004 Olympics. With 18 Gold Medals he is also ranked number 1 for the most Gold Medals over a career having twice the number of Gold Medals as the 9 won by the nearest competitors who were Larisa Latynina, Paavo Nurmi, Mark Spitz, & Carl Lewis
Michael Phelps won the most individual medals, with 8 gold. Nationally, USA had the most medals with 110 (36G, 38S, 36B). Second was the host country, China, with 100 (51G, 21S, 28B) medals.