There are two (i was on the same step as you, graphic designing for a fair while, and still designing) but the one i use is Fontlab and i think it is the best...
Anyway, you should give a look at some books too because most of the work is made by hand and not on the computer.

Joel Santos // youremin
sound & visual

Don't forget FontForge (Joel, was that your 2nd choice?). It's free, and looks great -- if you get it running, that is. Sadly, on my Win XP + Cygwin it crashes a bit too much for my liking.

FontForge works great on my Mac+X11, except that the menu text is way too small.

Yes was my second choice, it's a software talked around here. But i don't know, i never tried it, and my "tutor" showed to me FontLab, started to use FontLab, so... I don't know.
You still have that website... really basic website not much to do on it, kind of modular base. What is it called? I think it is from linotype...
Anyway, i still with my idea, 90% of hand-draw and 10% of digital work.

Joel Santos // youremin
sound & visual