On my external hard drives I have a video folder and an audio folder. I put my photos on a completely separate external drive.
Within the video/audio folders and photo hard drive I have folders that are are named YY-MM-DD- (performers names and venue)
So 2014-10-28 Band X and Band Y at Venue Z
This way all the folders show in order of when the photos/videos/audio were shot/recorded.
For photos I also have a separate "Edited" folder where I have watermarked and non-watermarked folders both with subfolders using the YY-MM-DD naming.
I do it similar to this, I have a separate directory for photos and under that, folders for each year. Then under each year, I'll have a folder for each event that starts with the date (that way they stay chronological), it might look something like:
20140130 Band X Venue Y City State
20140202 Aunt Susan's birthday party or whatever
20140204 Band Z Venue W City State
That way you can search by date, band, venue, city, etc. if you're not sure of the date.
Not sure if that's the best way to do it or not without some photo tagging / storing SW but has worked decently for me so far. You really wouldn't even have to do separate folders for years if you start your folders with the year part of the date, but I find it makes it a little easier to manage.
PS - nice picture of Dave datmike!