I use pwgen for sites where I care if my account is compromised (and store them in a gpg text file), but for all those sites where I don't care, I use a terrible password, because I wouldn't care if my login on most random forums I joined to read some attachment that was members only or my linked in (if I had one) was stolen, chances are I'm going to forget I have an account there before it gets compromised, so it doesn't bother me.

I've used some sites which had a login cookie, and if you lost it, you just put your email address in and they'd send you a new link, no password needed; much nicer for many things.