I've been quilting less than a year and a half, but have probably made twenty lap quilts in that time, so have been hard at it. I made a scrapbook, starting with my husband's offering to help with the purchase of a new sewing machine for Christmas 2006 (just a Kenmore), and a picture of me and him from Christmas day. I type captions, sentences, paragraphs, etc. about the quilt, where it went, the picture, etc., and attach them next to the photo. It's a lot of fun to go back and look at.
For labels, I use freezer paper and a piece of fabric that matches fairly well, and permanent markers - name of person it's going to, my name and city, date, name of pattern if I used one.