If the degree is from an accredited institution then it should be the same. I can't guarantee that no employer or PhD program anywhere in the world won't discriminate against someone who does a degree over distance learning, but in general it shouldn't be a problem.
Just make sure that the school is accredited by the appropriate body, (In the US this is one of the six regional accredation bodies) because otherwwise the degress isn't worth the paper on which it's printed.
Yes, the institution should be accredited and recognized. Otherwise the degree is not even worth a salt. However, accredited one may be expensive, its really worth that the certificate from the recognized will hold more water.
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