Comment Combination approach (Score 1) 414
Passwords I use frequently (once a month or more), I memorize. I used to just memorize all of them, but when more places instituted frequent password change and no repeats policies, I couldn't always remember the most recent one. (The worst was a site I needed to use twice a year - with a 90-day limit on passwords.)
So, those that change frequently or aren't used often enough to be burned into my brain, I write the login and the mnemonic for the password (but not the password itself) down on an encrypted note inside the OS X Keychain app.