I also want to emphasize that Microsoft Excel and Google Docs perhaps play an equal, if not more important role in keyword research than any of these tools, because at the end of the day, the mountain of data you end up with is of no use if you can’t perform calculations, sort, filter, present or store it in a way that’s best suits the task at hand. Head over to Distilled for a comprehensive Excel for SEOs guide. Alternatively, bug this guy—he’s the Sensei who trains Excel ninjas in the dark of the night.
In a nutshell, Long Tail Pro helps you quickly find keywords in bulk based on a seed keyword that you input. In addition to returning hundreds of related keywords, the tool also shows search volume (monthly search volume), advertiser bid, number of words, rank value, and my favorite Keyword Competitiveness (helps you judge the competition and keyword difficulty).