Most parts will not be static anyway... (Score 2, Insightful)

I think you'll come to find that aside from every-day components (caps, resistors, voltage regulators, etc), most of your projects will end up using *some* sort of specialized part.

Unless you are running a small business, you're wasting your time with any database.

My reccomendation - sure, combine caps, resistors, LEDs, etc, into either those 50-drawer wall-mount storage bins (for leaded), or 'bug' cases with the little flip-top lids (as mentioned above) for SMT parts.

Otherwise, organize specialized parts via 'project' boxes - keep all of the unique parts with the project. You'll remember "hey, I used a nice D/A converter on that retro-redbox", go to the box, dig out the original pkg, blamo, the part number you need to lookup specs.

Keep a small dry-erase board near your 'warehouse' to jot down part #'s as they become low - when you've accumulated enough parts to justify an order, they're all there in one place.