Quizlet
Over the past year or two I've started using a service called Quizlet to help memorize vocabulary. My experience with it has been amazing. Sometimes you need to learn vocabulary for retention and sometimes you need to learn a lot for a particular quiz / exam. No doubt the best way to achieve the former is repeated use in conversation, but sometimes as a student you need to inject a bunch of terms and definitions into your brain -- really quickly. Quizlet makes this necessary part of the student-life much less painful.
To give you an idea what it's like, you can check out my Hungarian group. I add all the sets I need to memorize for my current Hungarian class to this group. I just added Quiz 2.4 today. Once you get to a set page you can learn the words in a number of different ways, including just looking through them, a flash-card method that prompts you for the term / definition, and the ability to generate mini quizzes from the words on the fly.
If you need to learn a lot of vocabulary you definitely should check it out. I think you might just like it.