I have no idea how other readers handle the matter.
I have a folder in my bookmarks, 'SOL'. In fact, all my bookmark toolbar is folders, placed next to the menus which Firefox puts on the title baar - this means I loose only about a tenth of the vertical space on the browser (menu,address,tabs)
In the SOL folder are three main sections: Various folders, a bunch of bookmarks (about 10, not all from SOL) of the stories I'm reading as they are posted, and a few more folders containing lists of story bookmarks for those I'm waiting to be finished, or are finished waiting for me to get round to reading. The top section of bookmarks is more diverse:
*All the pages of updates and new stories (so I can 'load all in tabs' to get a consistent set)
*A folder of 'default' tabs (All forums, BTFH, SOL home and accessed, and FS) to load them quickly on loading the browser
*One named 'Sites' with links like ASSTR, Web Fiction Guide, various author's sites, Project Guttenberg and some other book sites.
*A 'misc' folder where I dump stuff I want to keep track of (like odd forum or blog postings)
*A folder of blog links
***Three folders of 'read it sometime' links to stories
*A folder of bookmarks into finished works that I'm partway through reading and have put to one side for a while
*A folder of bookmarks to stories I've read, to help me avoid rereading stories I liked the look of from the blurb, but which weren't memorable enough to let me remember I've read them
Stories which I'm waiting to be finished are saved as a bookmark to the story root, and as they are updated on site I edit the bookmark to reflect the chapter posted (and stuff like number of chapters and post schedule, if known); I've recently started adding the last post date. There are multiple folders depending on how interesting the story blurb sounds and how quickly it's posting.
I wish I could write, but 'a quick two page essay' would take me a few days of agonising over word choices. Tech stuff, software - no problem. Creative - no hope.