When I look back at birthday party pictures from when I was little, it seems like there is picture after picture of me holding up each gift I received. I have absolutely no idea who the gift was from or who was even at my party half the time!
Thus the greatest idea ever...(I have to give my sister-in-law credit for this one because I never would have thought of it on my own). As the birthday child opens each present, have the gift giver come and take a picture with the birthday child and the gift! Now you have a great memory of not only the gift (because really who cares about that years later anyways), but also the gift giver - which is more important anyway! Plus it helps you write those thank-you notes later!
We did this with both of my boys birthday and it's wonderful! The pictures are so much more meaningful!
Hope this is an idea that you can use too!