Ok, so maybe you guys won't slip up that badly, but I have and I quickly found an easy cure for quick NPC names. Since I tend to think of NPCs uses first and names second I have frequently shown up to the table with major NPCs being nameless. It's all part of the illusionist play style to cover with a handy name that fits perfectly after the fact. It looks like you've had that name ready all along. This is where random name generators and a little prep time comes into play.
Here's my short list:
http://www.squid.org/rpg-random-generator
http://unique-names.com/word-mixer.php
http://www.namemasher.com/default.aspx
http://www.degraeve.com/invent-a-word/index.php
http://www.wordconstructor.com/index.php
http://www.unled.net/
As you can tell I'm a big fan of "realistic" sounding names. If the NPC has to be called some huge polysyllabic word everytime they show up it gets old quick. Also, player's will tend to nick name those NPCs and nothing makes your Titan Beholderlich Lord named Sparualiziltikk, seem more silly than having it renamed "Spunky". Of course a Titan Beholderlich Lord is pretty silly anyway.
So I like word combiners. It also lets me put in concepts and phrases. So I can put
- Zug
- Loktar
- Kek
- Thull
- Axe
Then there are name generators that try to be "authentic" that just always seem... well cheesy. Or unpronounceable. However, I still go to them now and then for base words.
http://rinkworks.com/namegen/
http://www.seventhsanctum.com/index-name.php
http://www.wizards.com/default.asp?x=dnd/dnd/20010208b
http://www.ruf.rice.edu/~pound/
Finally I also like to generate a few hundred names now and then. I'll take the list and cull it for obvious problems and then save it somewhere so that if I need a name quickly I don't need to find my generator and hammer out a name. I'll just keep this giant pool of plausible names handy and when the time comes they are ready.