I keep all my cds/dvds in special designed cases for them. I label them usually with a word that summarizes it's content with a sequential number ("Software 001", "Pictures 001", "Complete Albums 0001").
This way, I can use a cd catalog software that searches in all of them when I need to find something specific. If I have for example 30 DVD's with mp3, and search for a band name, it shows in which numbered DVD's are these mp3.
Of course, you need discipline and organization for this approach to work flawlessly. But it's worth. I have DVD's full of old software setups that are indexed this way.
There's a lot of cd catalogs in sourceforge. Or you can use WhereisIt?, it's not free, but it's a great one (only windows) becaus you can create groups of cds/dvds among other features. It has a good interface as well.