I have friends who used their digi cams to take a photo of the contents of the container. You can print out a cheap copy and tape it on.

My DD6 drew picture to go along with the words a few years ago. (Those bins have now been donated to a neighbor.)

I use tons of bins and baskets. I like them closed -- it's more fun to see what's inside, like opening a little present every time. And it works for rotating toys. Now trains are in the LR, little people in the basement. Horses were in the BR, now in the LR -- it's like new toys!