A lot of my clients ask me what they should do about metadata. In the majority of cases, I recommend the Microsoft Hidden Data Removal tool, which is one free but blunt method to rid a document of potentially sensitive information that's hidden. I've also evaluated, but not extensively used a handful of others: Metadata Assistant, iScrub, BEC LegalBar Scrubber, Out of Sight, EZ Clean, Workshare Protect, and DocScrubber.
I'm curious how various organizations are dealing with metadata. Care to share?