Everyone will be different since what works for some, isn't so good for others. Some cook from cookbooks, others will use places like allrecipes.com, epicurious.com or other similar services that have their own systems. Probably most use MasterCook. Others make text files and store them on their computer or on disk or other storage medium, others print them out and start their own cookbook reference in a binder.
The convenience of storing online is that if you're somewhere else and need the recipe, you have it. But if it's in a cookbook and you can't find it online, then you have to type it in.
While this may not be exactly what you're looking for, you might find it to be an interesting read:How do you store your cookbooks?