Clipboard Magic is a free and small application that works by storing each piece of text that you copy to your clipboard, and saving it into a list, so you can easily edit, or recopy it later. In addition, you can export all or your selected clips as text or MCL (Magic Clip List), that can be imported or appended later on.
The program has a tray icon that enables you to suspend clip archiving, clear your clipboard, and force the program's window to stay on the top of all other applications.
The program lacks a feature that enables you to sort the clip list according to the application that generated the clip text. Also, there should have been an option to create categories for them.
One of the problems I found is that the clipboard list doesn't have the ability to display multi-line or rich text, and it removes the line breaks instead, but you can see the correct format of the text after you use the "zoom in" function of the program. That function will also enable you to edit the copied clip.