For some a simple copy / paste is more than enough. Others want a little more control and for them there is a free Mac app called ClipMenu (link). 

It automatically saves the last 8 items copied to your clipboard and you can easily paste any of them back by:

• invoke the app using the chosen shortcut
• choosing the item number you want pasted

That's it. Its a free app based on user donations so take it for a spin.