Like other posters, I also use an excel spreadsheet. I initially only collected T206's and had used an excellent spreadsheet which could be sorted by player/pose/grade/back (don't recall the original source). Since my interests have expanded to primarily 19th century, I've built on the original T206 spreadsheet to include everything in my collection.
About a year ago, I took inventory of everything (very time consuming but worth it) including condition, price paid, observations etc. And when I do purchase a new item I immediately update the spreadsheet and add pictures to photobucket so I don't need to go back afterwards. I've also sold 95% of my cards post 1950's so that has helped make the collection much more manageable. I keep the spreadsheet on my computer as well as a USB stick.
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Collection
Looking for any non-Harper baseball woodcuts
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