I do things a bit different. I just bought some simple mailing address labels, like you sometimes see stuck to envelopes. They are not waterproof, but I print with a cheap laser (you can get them for like $50 from dick smith or wherever). They are waterproof enough to stand up to condensation, but wont survive washing.
Anyway, My main aim was to detail the recipe I used to make that batch so I can keep track of them. I've only just started using them, so I don't know how easy they are to peel, but if they don't peel, I'll just stick the new label over the old.
They do have a simple 2 tone black and white logo on them, as well as about 4 lines of text. They actually don't look that bad. certainly better than plain bottles.
btw, microsoft word has templates for labels (including avery) built in.