This is an excellent point. I've been trying to go back and fix that, by correlating pictures with journal entries or blog posts and the like. I wish I'd taken better notes about who all these people were and what they meant to me at the time.
This is the reason I'm still runnins OSX Mavericks. I have a HUGE investment in iPhoto in the form of curated albums and photo captions. All attempts to migrate the iPhoto albums to Photos have failed. So I keep Mavericks machines mainly so I don't lose my iPhoto albums.
Apple Photos and I’m sure many other photo clients has a caption feature that lets you type notes for a picture. I haven’t hit into any character limits so you could presumably write a journal entry for each image.