The binding energy and dissociation energy of fourteen first and second row diatomic molecules (twelve hydride molecules and two hydrogen halide molecules) have been computed using Börn-Mayer, Gaussian, Woodcock and Logarithmic (L_5) potential models. The Woodcock and Logarithmic models are also used to compute the electron affinity of halogen atoms and hydrogen atom. The estimated values are compared with the experimental findings. The Logarithmic (L_5) and Woodcock models provide the better results in comparison to other proposed models.