I’ve just started using Anki, a free, open source Mac OS X flash card application that also has companion iPhone and Android applications (not free) that sync your data. What an incredible app — one can import tab-delineated text files and turn them into flashcards with one click! It supports unicode font encoding, so your text doesn’t have to be in English. You can embed images on cards as well. And the intelligent review algorithm is fantastic — it will schedule your next review of a card depending on how easy or hard it was for you to remember. Amazing. Hats off to Anki.
Anki does exactly what it says it does, it “makes remembering things easier” with “friendly, intelligent flashcards.” This application is not just for students, it’s for anyone who wants to remember anything. It’s now part of my daily workflow. Test it out for yourself — it’s free!