Lisa,
Labeling each photo with name of the person and date is the most important thing you can do. My mother went through her photos and put them into albums and dated the spine as you have done. Some of my oldest albums are in good shape. As a kid, I loved to put scrapbooks together and label them. However, as years went by I used different types of storage. Now, my photos are poorly stored and identified. With digital, I wonder how I will ever put thousands of photos together.