Open Library
openlibrary.org
A catalogue page for every book ever published, many of them borrowable
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ma.gnolia.com
Saved and tagged bookmarks you could search alongside other people's.
Use Raindrop.io instead
A bookmark manager that shows what you saved as a wall of covers. Full-text search and permanent copies of saved pages require the Pro subscription.
Open Raindrop.ioThe best-designed of the social bookmarking services, and for a couple of years the polite alternative to del.icio.us. In January 2009 a database failure destroyed the entire corpus with no usable backup; the service never came back. It is the single most-cited example of why a bookmark collection you do not hold a copy of is not a collection.
Questions
No. Ma.gnolia is no longer running and ma.gnolia.com does not serve the tool any more. Raindrop.io is the closest current equivalent — it a bookmark manager that shows what you saved as a wall of covers.
Yes. Ma.gnolia sends your input to its own servers to process it. That is fine for public material; for anything containing personal data, use one of the on-device tools instead.
Shut down permanently in 2009 after catastrophic data loss; nothing was recovered.
Alternatives
Same category or same task, ordered by how closely they overlap.
openlibrary.org
A catalogue page for every book ever published, many of them borrowable
archive.ph
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arxiv.org
Free preprints in physics, maths, computer science and quantitative biology
feedly.com
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scholar.google.com
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instapaper.com
Saves an article for later and strips it down to just the text