The titles are saved as part of the project file.
If you want to save a title for later, you can:
1) Select the title(s) in the project window the go to File>Export>Title. That will make a .prtl file.
2) In the title maker, once you have your desired title created, click the template button in the top left area of the of the title maker....
Then in the template dialog choose...
It will save your title as a template for whenever you want it.
That'll be $2.50 please.
Another way is to select the title in the Project Panel and in the File menu select Export / Title. That way you have all of your titles in separate files that can easily be imported into any Premiere Pro project and even be handed off to another editor using Premiere Pro on another PC.
(Not that you could not pass around the templates. You can.)
One of the advantages of the separate files is that they can be modified by a text editor using a script of some kind. Which really helps if you are pasting in lots of on screen subtitles or Lower Thirds.
OK. I'll bite.
What was confusing?
I just had a spell of deja vu reading your post is all.
Thanks to you all. That is great!