PyroX, i thought i've read somewhere that if a user doesn't accept cookies the user also isn't accepting a session (maybe that is for ASP instead?).
rapmonkey,
I would say sessions. after a certain period of time, if the user is inactive, the session stops requiring the user to login again. I'd store the username in a cookie for the "Remember me" option when logging in (if you have one).
Cookies can be easily manipulated to be as another user and such and (as far as i know) almost impossible to manipulate a session variable from the client side.