The most popular free keyword selector tool is Overture's Keyword Selector Tool. To use Overture go to http://inventory.overture.com/
When you get there you will see a search box, similar to the picture below.
Enter the phrase you want to learn more about and click the button. You will then be presented with a list of terms that are closely related to your term as well as the number of times that your term was searched for in the previous month. Check out the results for my key phrase -- "Colorado ski resorts."
While there are more results returned by the tool than shown here we can see that my example key phrase was searched for 4583 times. I can also start to build my list and try different combinations of words using the suggestions given by the Overture Keyword Selector Tool.
Now I want to check to see how many competitors I am going to have to go up against for the term "Colorado ski resort".
As you can see there are over 1.5 million Web sites already indexed for the term "Colorado ski resorts." This term would be considered highly competitive and more than likely a very tough keyword to use to get into the top 10 results. While I wouldn't shy away from targeting this keyword in the long term, finding alternative key phrases to target would be much smarter for getting traffic in the short term.
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