In order to be able to sign a document using Adobe Reader or Adobe Acrobat, you need a so-called signature field in your PDF, which is a special kind of form field. In order to add it to a file you have the choice between two different LaTeX packages:
The digsig package
This is a small package that enhances the form capabilities of the hyperref package to support signature fields. It is not available on CTAN, but you can find it on the author's website. To use it, simply add \usepackage{digsig} to the preamble of your document (if you're already using hyperref, load it after \usepackage{hyperref}). Now you can add signature fields to your document using the \digsigfield macro, which expects the width and height of the form field and a freely chosen name. Note that you have to enclose the command in a Form environment, like this:
\documentclass{article}
\usepackage{digsig}
\begin{document}
\begin{Form}
\digsigfield{5cm}{3cm}{My signature}
\end{Form}
\end{document}
The eforms package
eforms is another package to create PDF forms, with support for signature fields. You can find it on CTAN, but it is not included in TeX Live, so you may have to install it manually. It is very similar in use as the digsig package. However, there's a bug in the eforms driver file for pdfTeX (it includes code which is only valid when you use latex->dvips->ps2pdf, causing errors when used with pdflatex). The following code already includes a fix for this:
\documentclass{article}
\usepackage[pdftex]{eforms}
\makeatletter
\def\eq@SigField{\centerWidget\eq@rectH
\if\autoCenter n\eqcenterWidget=0pt\fi
\leavevmode\hbox{\pdfstartlink user{\common@SigFieldCode}%
\lower\eqcenterWidget\Bbox{\eq@rectW}{\eq@rectH}\pdfendlink}%
\endgroup
}
\makeatother
\begin{document}
\sigField{My signature}{5cm}{3cm}
\end{document}
In both cases, the output is a rectangular field you can fill with a digital signature using e.g. Adobe Reader* or Adobe Acrobat:

Note that many other PDF viewers don't support these fields and won't display nothing at all. A "live" example of a signature field can be found in the eforms manual on page 15.
*In order to digitally sign a PDF document containing a signature field using Adobe Reader, this feature has to be enabled first with the commercial product Adobe Acrobat Pro.
pdftk, but that's kind of round-about. – vy32 Apr 8 '12 at 2:41