I have been using ClipX for 2 or 3 years (I forget) but if you are a lyricist or writer in general and you are constantly cutting or copying in to your work. This is a great tool. If you have ever deleted a line and wished you had it back, this really helps. Instead of deleting, I just cut it out and keep it on the clipboard just in case. You just click on the icon in the tray and a list pops up of all the words (or verses or paragraphs) you have copied, then you just click the one you want (even if it was 3 days ago) and paste it in your document. I have it set for keeping the last 300 things I copied. It's free and has saved my butt many times. This link is not the regular download site, but just has the best explanation of it I believe. If you get it, I would get it from Cnet.
http://foliovision.com/seo-tools/computers/windows/clipx-clipboard-manager