(I have not involvement with that site except as a user, but it's one of those things that I feel compelled to plug because it has made my life so much easier.)
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This topic has come up many times on Slashdot... I'll share my digest of interesting link
Pronouncable Passwords :: http://www.multicians.org/thvv/gpw.html :: generate a memorable basis point, add unique randomness on top. Very good for teams where the secret 'salt' is shared, but you can remind teammates which password is used verbally
Keepass :: http://keepass.info/ :: Self encrypting db with GUI tools
Diceware :: http://world.std.com/~reinhold/diceware.html :: offline strong password generator
It stores an encrypted DB accessible via a master password, and it works great with something like DropBox if you use multiple machines. It also works w/ multiple logins per site.