We discuss one of the most fundamental scheduling problem of processing jobs on a single machine to minimize the weighted flow time (weighted response time). Our main result is a $O(\log P)$-competitive algorithm, where $P$ is the maximum-to-minimum processing time ratio, improving upon the $O(\log^{2}P)$-competitive algorithm of Chekuri, Khanna and Zhu (STOC 2001). We also design a $O(\log D)$-competitive algorithm, where $D$ is the maximum-to-minimum density ratio of jobs. Finally, we show how to combine these results with the result of Bansal and Dhamdhere (SODA 2003) to achieve a $O(\log(\min(P,D,W)))$-competitive algorithm (where $W$ is the maximum-to-minimum weight ratio), without knowing $P,D,W$ in advance. As shown by Bansal and Chan (SODA 2009), no constant-competitive algorithm is achievable for this problem.