Label features on hover/click with QGIS?

Simple question: Is there a built in/easy way to show labels for features based on a hover or click action with QGIS 2.0.1?

Answer

Yes, there is a feature called map tips that does exactly that.

They can be activated in the display tab of the layer properties, you can display a field value or use HTML code. Check out Nathan's blog post for more info.