Flashcard Machine is an easy way to create study cards and flash cards for tests, exams and quizzes. Teachers can use it to create flashcard sets for their students. Students can create their own flashcard sets. You can add images and audio to your flash cards. You can also tag cards to move them between sets and even print them. Flashcard Machine has a multiple choice quiz feature as well.
Free registration is required. It has associated fee-based apps for iPhone/iPad and Android devices. The web-based version is free.