At my office, we have had a long-standing debate about Localization/Globalization and how to handle it. One side pushes for the Resource (.resx) file route built in to ASP.N
As all the above are true, I want to add some additional insights.
I tend to use .resx based localisation, when working on "static" projects/websites like Dashboards or other small websites, which are focused on a specific usergroup.
When working on larger and more "dynamic" projects like shops, service-offerings, etc. (esp. when content is localized - not only labels) I like to use database localisation.
When you are developing on larger projects each language is maintained by another person, who is not necessarily in your project (especially in community-projects). Thus maintenance of different languages becomes a real hassle. On the other side providing users some good/easy UI to update their language is time-consuming as well. So try to find a good path for your project.