Tagging Records

Would like to create a field where I can select multiple tags for a record from a given database table. What is the recommended approach such that I have a text box shown where when I start typing an AJAX search starts to list matching tags (from another table) and can enter multiple tags in the same textbox? This would be similar to the Tags textbox when entering a post in this forum, but would be from a defined list.

Is this the correct approach or can the same be achieved in an easy to use manner in Scriptcase.