With my P-touch label maker, I can only do 2 lines if I want to be able to read it. I like tink3472's but that looks like it's done with peel off labels with a printer and pc. .... do they make a label maker that uses such wide tape? Cost of the tape is one of the factors that had me searching for an alternative, but since the labels last forever, I think it all evens out.
I've tried using a laser printer on waterproof labels, but they still fade in my zone 5 garden. In an attempt to come up with something easier to read, I've tried making business card labels, laminating them and then using strong adhesive to attach them to the face plate of a marker. They don't fade, but they fall off more than they stay on for me.
After trial and error, I have gone back to the P-touch .... I have some labels that are over 10 years old that are still legible.
The markers in tink3472's post is what I use the most, but am gradually changing over the display beds to Kincaid Stainless Steel plant markers. (I get the P style) I love them! http://www.kincaidgardens.com/
They offer a discount program to daylily clubs.