Just to clarify:
Be aware that entering the title and track information does not "encode" that information +on the CD+. Many people believe that it is possible to encode the title and track information, artist, etc. on an audio CD, or wish it were possible, but it's not. Data CDs or MP3s - yes - but the specifications for standard audio CDs do not make any provision to store this kind of data on the CD.
When you enter the artist and track information for a CD in iTunes, that data is kept in a file on your computer, and when you reinsert that CD later, your computer recognizes the CD and supplies the data in iTunes. If the same CD is inserted into another computer that has never seen the disk before, the tracks will show as track1, track2, etc. This is not a limitation of iTunes, and there is no 3rd party solution - that's just the way it is, as described here:
http://support.apple.com/kb/TA27785?viewlocale=en_US
If you follow the advice of christopher rig, then the data will be uploaded to the CDDB website and others who insert the CD - or an exact copy of it - in their computers can see the data if they are running software that can access that database (like iTunes).
As I understand it, the CDDB matches the data to the CD when the CD has the correct number of tracks of exactly the correct length, so if you edit the CD, you'll need to upload the data again.
-gw