I came across a really useful software today: Zotero.
It helps to collect, manage, cite, and share your research sources. Basically it's a Firefox browser addon that can store sources and make it easy to organise them. If you are looking for a book resource you can simply go and find it on e.g. Google Books, Amazon or many other pages and save the source with a single click. You can then easily cite and Zotero creates the bibliography with your desired bibliography style. It's as simple as drag and drop and it works across many different applications.
There are also Zotero plugins for Word and Open Office.
If you never were too keen on Endnote then Zotero may be your solution for academic referencing. In my opinion Zotero has many more useful features than Endnote (besides the fact that Endnote just looks so old-style and dusted). Zotero integrates nicely into the browser (so you can collect a web source with a single click of the mouse, including the retrieval date), you can save your sources in an online Zotero account (which means you can use your list of saved sources from anywhere as long as you have internet access), you can share research sources and connect and possibly collaborate with other Zotero users who work in your or a related field of research.
And then it's free.
If you require e.g. APA referencing 6th edition which is fairly new you need to install it from this huge list of referencing styles because it's not yet one of the default styles.
Watch the intro videos and screencasts to get a quick idea on how Zotero really works.
I'm pretty sure this will accompany me over the course of my Postgraduate/Masters project and will save me a lot of hassle.