From Wikipedia :
Mnemonics rely not only on repetition to remember facts, but also on associations between easy-to-remember information and to be remembered lists of data, based on the principle that the human mind much more easily remembers data attached to spatial, personal, or otherwise meaningful information than that occurring in meaningless sequences.
My friend has developed http://www.mnemonicdictionary.com/ which is kinda database for mnemonics. It allows you to submit words that can be related to mnemonics, and then you can disscuss them in forum. It also allows you to search words in database. This uses mnemonic approach to encode the meaning of words using some mnemonic idea (Any idea which can somehow relate the word with it’s meaning).
For example :
Meaning : burden
Mnemonic : ON-US you are ON US ie. you are BURDEN to me
Word : Brazen
Meaning : bold
Brazen : Bra+zen hey isn't his girlfriend "zen" looking hot only in a bra.
Visit www.mnemonicdictionary.com for more such words with mnemonics. Also, please give your suggestions and feedback regarding the website.