When the researchers looked at how people returned to sites they had visited before, they discovered that context made all the difference. When subjects in their study had the chance to describe a site in their own words and were given the description six months later, they had little trouble finding the site again. Yet in today's typical bookmark applications, users cannot annotate sites they save.
The New York Times: What's Next: Now Where Was I? New Ways to Revisit Web Sites in which we learn of a three-year $378,000 grant from the National Science Foundation which, if wildly successful, can simply rediscover the efficacy of weblog as bookmark replacement.