I have an old Brother label maker that I've been using since the late 90's. It's a cheap, no frills model that I bought for less than $25. I use their "extra strength tape" for stuff like this.
This tape is not indestructible but it is waterproof, doesn't fade and, as long as you clean the surface before putting the sticker on, doesn't peel off. The labels I put on my oars, etc have been on there for 3+ years.
Another thing that helps prevent the labels (or any type of sticker) from peeling off, is rounding the corners. For that, one of these makes the job extremely easy and fast.