Hello Roygee

Here is a link to a material library that I found with in the Blender Online manual that are materials that are cycles based http://wiki.blender.org/index.php/Extensions:2.6/Py/Scripts/Material/Online_Material_Library Another source of materials that you can use as learn from is from http://www.blendswap.com/ which you do have to create an account for to be able to download materials as well as Blend files of many types and much more. As far as saving materials you yourself create they would be saved as normal blend files with in blender and you can call them back up with in Blender using "File> append" and add a previous saved material from another blend file. I am sure someone else will chime in with more information that will be useful.

Good Luck

Lobo3433

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Forum: Blender

Subject: Using material libraries