The TZ tapes also fit in the least expensive Brother P-Touch. This one cost me $9.99 at Staples.
For marking the wire, usually in duplex, triplex and larger battery cable I will often write on the jacket with a Sharpie marker first. This is a back up to the actual label.
As can be seen here I have labeled the wire with the Sharpie, made the P-Touch label and cut the clear heat shrink.