General rule is to take a diode that can handle a reverse voltage of ten times the applied voltage, so if it is 5 Volts then a 1N4001 should be enough, althought it's exactly at the border. If you have to specially order anyway go for a 1N4002 which can handle 100V or 1N4003 @200V, there will hardly be a price difference and you apwill be on the safe side.
If I find some time tomorrow I will make another drawing to explain why such a diode is needed with one of my famous drawings

Be sure to mount the diode directly on the terminals of the counter.