Interesting topic! I use two 3-ring binders. One for sweet, one for savory. Each recipe is printed in Word and inserted into a page protector. (That way, they can be wiped off when splashed) I have taken pages from my cookbooks also. Lately, I've been moving the recipe that I am currently using to the front. That way, the more frequent ones move to the front.
New recipes are placed into pockets at front of binder. When "proven", they are assigned a sheet protector. I can change the recipe by writing on it, and they are backed up in a file on computer, in case someone wants a copy.
One Christmas, I collected several family favorites, like Aunt Mollie's rolls and MIL's apple pie, to create a family cookbook for 6-8 family members. I bought the binders during back to school days for nothing. Page protectors at Sam's. Added blank pages for their own personalization.