When is comes to balancing security with convenience, a few things have to be considered.
1.) Psychological/Mnemonic security: IE - respectively, how easy is it for someone to guess the password and how easy is it for someone to remember the password.
2.) Cryptographic security: IE - how long would it take, best case situation, for a computer to try every possible password until a match is found.
There are many factors to both equations that are dictated by technology and by human nature, but being aware of these factors can add to security by simply taking them into account.
So, how to come up with a secure password.... The idea is to come up with something that is easily remembered, yet hard for anyone else to guess based on knowing you personally and hard for a computer to guess due to mathematical complexity.
How to solve the human factors:
1.) Rely on process rather than facts - don't use birth dates and other significant numbers or letters that are obtainable by other people - social security numbers, birth dates and anniversaries, names of kids, etc.,... Rather rely of a formula that incorporates a random number of these things.
In this example the security relies on knowledge of the formula rather than on concrete facts knowable by a large number of people.
2.) Cryptographic security: This is today the more likely attack so it needs to be considered as such. Cryptographic security is all about complexity. The goal here is to use a large character set for each character in the password and to maximize the number of digits.
Example: A 2 character numeric password has 10^2 or 100 possibilities. An 8 character, alpha numeric, case sensitive password has (26+26+10)^8 or 218340105584896 possibilities.
The idea is to force a computer to check everyone of the possibilities where they more there are, the longer it would take.
Example - first letter of mother's maiden name+month of birth date+(12-birth month)+whatever.
The formula for cryptographic complexity is basically (number of possible characters per character to the power of the number of characters)
Thus, a 2 digit password using only numbers is 10^2=100
a 3 character password using only numbers is 10^3=1000
A 2 character password using only lower case letters is 26^2=676
A 3 character password using only lower case letters is 26^3=17576
And on and on. SO if you have a high character set - say numbers, lower case letters, upper case letters and basic symbols (^)(,."' ect.,.... you will add to password complexity.
A password using all of these types of characters produces a complexity differing only on length.
26 (lower case letters)
26 (upper case letters)
10 (numbers)
32 (basic, keyboard printable symbols)
That's 26+26+10+36=98 possibilities for each character in the password.
Take that to the power of the length of the password and an 8 character password has 98^8=8,507,630,225,817,856 possible combinations. Add ONE more character and the password complexity is increased to 98^9=833,747,762,130,149,888 or a factor of 98 times. That's No trivial task for a computer, but pretty easy to come up with a formula to produce that complexity for a human being. How hard it is to include a symbol, number, upper and lower case letter?
What you are really looking for is a password that is both psychologically AND cryptographically secure - as much as possible within reason.
A good formula I've used is literally to open notepad and type random crap. I end up with things like aAs32l8&*. This password is both psychologically (has no attachment to me personally or to my though process) and cryptographically (length and character set are all used to the fullest extent) so its a secure password.
Now the question is remembering the password. If you have to type it in all the time, it will become nothing more than a bunch of keystrokes. If you are able to write it down, then as long as you keep that written note secure (ie - you don't put it on a sticky note under your keyboard or worse yet stick it to the side of your monitor) you are probably fine.
The idea is to come up with a process that you can use to derive passwords that are secure. Don't remember the password itself, rather, remember the formula you use to create passwords. As long as that formula is secure in the passwords it creates, you have security in that nobody else knows the formula, even if they did they don't know the variables you are plugging into the formula and they don't know the last time you changed the password - which may or may not have been the basis for the new password.
Last thing - since the computer is the most likely vector for attack, if you keep your passwords in a plain text notepad .txt file, you have already lost. Better to jot it down on a piece of paper in that case as an attack over the network cannot read your sticky note, but another computer CAN read your plain text file.