What is the best way to store a bottle of wine after opening?

This link should have some info you could use.

http://ask.metafilter.com/57756/How-to-best-preserve-an-open-bottle-of-wine

If it does go bad you can always use it for cooking.

Buy a can of inert gas, which can be found at most wine shops. The gas is heavier than oxygen (which is what will turn your wine) and forms a protective layer on top. I think the gas is somewhere around $8/can and has at least 50 to 100 uses.

Also, store it in the fridge after you gas it.

It should stay good for at least 3–4 days. Mine never lasts that long, so I haven’t really tested the longevity.

They also make little pump contraptions that are supposed to create something near a vacuum that helps extend to life of an open bottle.

All true! But just enjoy the whole bottle with a friend it always taste better with company.

I have found the human digestive system to be an unsurpassed storage for the remainder of a bottle of any wine.

Kevbo is right, but try your best not to put red wine in the fridge. It should be served room temperature. White wines are okay, most are meant to be served chilled, or at least just below room temp, but reds are never supposed to be cold. I know the answer is a little bit late, but hey, had to put in my two cents.

If you don’t have a vacuum pump and the cork that it comes with, get one. After red wine is refrigerated, be sure to take it well before you are going to serve it again, because it is better at room temperature.

I usually make a wine toddy with my refrigerated red wine. Boil 1/4 cup of water, add a dash or two of cinnamon and clove, then fill the rest of the cup with the red wine. For a really sweet drink, add a teaspoon of honey.