I currently deal with recipes three ways: (a) in one huge word processing file, typing in new recipes at the end as I try them and decide they're keepers, and can thereby find them by searching for keywords/ingredients although it can take some effort; (b) as separate entries in an LJ comm, where they are tagged, but by no means all the recipes are up there, it's an ongoing process; (c) in an actual printed cookbook, based on (a) but organized by type of dish (e.g. breads, soups, chicken main dishes, etc.), for which there is a table of contents - this is usually somewhat out of date as I don't redo it more than every couple of years, adding new recipes.

I used to have a card file but some of my recipes are really too long to fit on a card, and the total number had exceeded the size of the box to boot. Actually I still have the card box somewhere, just don't use it. At one point too I had the recipes in a database, which was more easily searchable (and I had fields that served basically as tags), but since the DB was created by me there were always some formatting/printing issues.

The drawback with having them on the computer is that either the computer has to be in the kitchen (risky!), or you have to print out the recipe(s) you want to use. OTOH, they're much easier to label/search. The cookbook is safer/easier for actual use, but not as easy to search (although browsing works well), and always lacking a few recently-acquired recipes. Hence my use of multiple formats...