Fritzing is the sophisticated new electronics application with the funny name. It is a powerful tool for making schematics, prototyping circuits, and designing printed circuit boards.
This is the best time to get into electronics because we have an abundance of high-quality hardware for cheap and great software for free. Arduino, Beagleboard, and Raspberry Pi give us hundreds of inexpensive hardware components to play with. On the software side check out the new Fritzing project. Fritzing lets inexperienced electronics noobs make great-looking schematics and circuit diagrams, and even design and build their own printed circuit boards.