Online or Journal
I've been using Cool Running's log for years. (First entry - Dec. 2001) I like the program because you can download your running log into Excel and save for offline viewing.
Recently I also started using Breaking The Tape's log because they have some nifty Blog scripts you can include on your web page (see my sidebar) that dynamically updates your runs.
The writers of RUNNING WITHIN highly recommend keeping a logbook. And not just to keep track of the miles but for mental notations. (Emotional - spiritual?)
You could also do some sketching and add pictures and mementos.
I'm thinking of picking up a small blank book journal tomorrow...