Last year, u/SpanishInput published an awesome list of 5000 most common Spanish words here: https://www.reddit.com/r/Spanish/comments/uxs10w/oc_the_5000_most_common_spanish_words_calculated/
The list was useful but I wanted an easy way to study it, so I've used the Azure Translate API to translate every word and add a usage example where available. The translations/samples are not perfect but I think it's good enough to start practicing.
Updated links from March 2024:
Spanish->English: https://www.brainscape.com/p/50M5K-LH-COM54
English->Spanish: https://www.brainscape.com/p/50M5K-LH-D2D6Z
Spanish Top 5000 Vocabulary Anki Finished
What word list are you using for Spanish? - Language Learning with Netflix Forum
[OC] Brainscape deck with the 5000 most common Spanish words (calculated from Spanish spoken in TV shows and movies)
Most used 3000 words in Spanish
Videos
I finally finished the Spanish Top 5000 most used Vocabulary: https://ankiweb.net/shared/info/241428882
I just got back from a 3 month trip to Latin America. I have been able to hold hour long conversations with people in Spanish, which I attribute to the words I've learned from this deck. Even though I have a ~5000 word vocabulary, my listening is still garbage and I have to ask my conversation partner to speak slowly. However, I can pretty much get any message across. If you decide to use this deck, there are some weird 18+ images on here: just a warning.
Next step, lots of listening.