I've done some digging to remind myself where I got to previously.
The <a href="
http://www.metadataworkinggroup.or">metadata working group</a> have an old, but useful description of the different standards for storing metadata within a digital image (primarily EXIF, IPTC-IIM and XMP) and where they overlap.
My impression is the new standard is XMP (as developed between Adobe and IPTC) and linked to earlier by Falkyrn. Ken Watson describes the capability of different software to handle the metadata formats (
http://www.rideau-info.com/photos/labelling.html), though perhaps the IPTC have <a href="
https://iptc.org/standards/photo-metadata/software-support/">more recent information</a>. Ken also describes how to visually caption your images as suggested in earlier post by Guy.
I don't think there is an agreed metadata structure for genealogical purposes. I found <a href=https://pdfs.semanticscholar.org/075d/6a2dec028a154345a57fb61c279e6050c60a.pdf>this paper</a> from 2012 describing the issue.
While there isn't a standard for genealogy specifically, as Archivos indicated, there are lots of standards out there for archiving. I was/am uncertain how to use them though.
Perhaps the most common approach is to use keywords to add meta-data, and if most common, perhaps it will be the most long-lasting approach. Even then, I'm not sure keyword hierarchies are consistently managed between applications.
I'm interested in hearing what others do. Maybe duplicating metadata is best - in the filename; within EXIF, IPTC, XMP; as a caption; in a separate file; as an annotated hard-copy...