For development, it can be handy to run a small test server. A good candidate in particular for Lua web development is the Xavante server which is part of the Kepler project. Aside from some of the supporting Kepler modules , Xavante itself is written in pure Lua.
For production, the new mod_lua (which had been known as mod_wombat before the Apache team accepted it into the core set of modules) running on Apache would seem to be a well-respected choice.