I need an efficient way of coding corrections in my thesis. Ideally, the tool should allow me to highlight the text/formulas/listing that I am replacing as well as the replacement.

Currently, I have decided to use ulem which allows me to strike out text I want to remove and emphasize the text that I have replaced with. However a friend of mine has also suggested me to use latexdiff which is also useful.

Links:
http://usefreetools.blogspot.com/2008/04/various-latex-tips.html