I started entering photos in Photoshop Elements 10 several years ago. Currently at just over 42,000 images with lots more work to do.
You can identify images by person name, place, date, time, etc, etc. You can group images by location, event, etc. More features than I've used but it's nice to be able to track family history visually - "This is your great-grandmother and this was her house" as well as by name and place name (more than 10,000 people in our combined family histories).
Not sure what version Elements is up to now. There are other similar tools (I looked at a dozen or more) but Elements 10 was the best tradeoff in price versus the features I needed - including not dying when presented with a drive containing 100,000+ images, a 2TB drive with images collected from multiple cameras and scanners and extracted from 5 or 6 computers (some products couldn't handle that many images).
It need not be the latest and greatest version of whatever software you choose - last year's version has 99% of the current version's features and is appreciably cheaper on Ebay (yes, I'm cheap; that's how you survive the market hits of 2008 and the like ;-)