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This free site, VerbaLearn, offers different ways for you to learn sets of vocabulary words.
You can listen to the words via mp3 transfer to your iPod, make puzzles like crosswords, make and print flashcards or watch a video flash card stack.
In addition there are fill in the blanks and quizzes you can take to see how you are doing with your memory skills and the words.

Of course you can always use Wordle.com to create a visual like this one to the right.