First you need to decide on what size label and what info you want to include. Check out Avery. They may have a (free) downloadable template for you to start with and adapt.
I suggested laser, because you still can print normal items, along with the peel n stick labels. Cost of a decent laser is about 3-4x more than an inkjet machine, but you save on the print cartridges and the print time is less.
I would try and stay away from one of those all-in-one machines (printer, fax, scanner...) for your label printer. IMHO, the feeds don't seem to work as well for the labels and tend to jamb easier.
If substantial number look into a dedicated thermal printer. Text doesn't smear and doesn't use a cartridge.