Well, AutoREALM, a mapping program, comes with AutoNAME which provides all LotR names, lots of old languages (welsh, english, scottish) and different assortments.
I don't use it as I'm trying to use GIMP now, but I usually combine two words into a completely new word. Some (maybe rather bad, but I thought they were good at the time xD) examples, in the mountain - Mehtunai, laketown - Ketwa, basin city - Sibayth, wrath ring - Grahnth, ring fortress - Tregos, east plain - Tesan, below Racin[mountain] - Lonae.
I think synonyms work well too, like if you have an old forest, Elder Forest might work.
Or just names that come to you, randomly out of your head.