When I'm hunting, I use EAR, Inc. custom fitted electronic hearing protectors. They're very effective even when I'm shooting a braked 460 S&W Magnum handgun. If you're spending thousands of dollars on guns, I think it's worth it to spend some to protect your hearing.
For target shooting, I use EAR, Inc. foam ear plugs and put ear muffs over those. Foam ear plugs are not created equal and I've found the ones from EAR, Inc. to be the best.
I've also used electronic ear muffs. Electronic ear muffs have a circuit that turns off the amplifier when exposed to a loud noise. If the circuit isn't fast enough, you'll still be exposed to loud noise. When I've used the electronic ear muffs it seems to muffle the sound but I get tinnitus after shooting with them so I know I'm being exposed to excess noise when using them.