Yahoo! has launched a free lyrics service. They have the official lyrics for 400,000 songs and they're sharing them all legally.
I've often wondered why there's been no decent lyrics database but I'm guessing the reason has to do with copyright. Yahoo! will share with copyright holders the revenue from the ads that will be displayed alongside the lyrics. They have the blessing of nearly 100 music publishers.
I searched for Hip lyrics and found them, then I searched for Pearl Jam lyrics and found them, but when I searched for lyrics from my pal Custom, I came up empty. Not to worry, I've taken care of it.
Even with the Custom oversight, the database is clean, safe and trustworthy. It's about freakin' time.