What I'm doing is somewhat like this: I take memorable sentence, for example Old Mac Donald Had a Farm. Then I pick only the last and first letter of each word: dOcMdDdHamF.
But slightly more complicated (for my actual password I use two sentences, with some numbers and strange 'slang words' that only make sense to me).
You should never say this this sort of stuff to anyone. I once managed to guess someone's password by asking them what's a good password
+1