Firstly, early every Spring, plant your own basil in two or three
pots.... set them out in the sun near you kitchen door at the last sign
of frost .. if you're an apartment dweller, keep them inside by the
kitchen window....failing this....keeping them in a glass of cool water
is second best. As for storing them for the winter......pull the leaves
from the stems, then rinse in cold water thoroughly and GENTLY pat as
much moisture from the leaves as possible...spread them on a long sheet
of saran,,,,,roll up the saran and fold in the sides as you go...seal in
a small baggie removing all the air and freeze....when you want them for
sauce, salad ect..unroll saran and remove desired amt and reroll and
seal and return to freezer....tastes as fresh as the day it was
picked....adding oil to basil if it not used within a few weeks results
in a dank musty taste similar to puting chopped garlic in oil...yuk.....

http://community.webtv.net/R-J-Q/FIRSTANNUALALLYEAR

http://www.wtv-zone.com/cal555/index.html