You can use the locator() within text() by point&click method.
y <- rnorm(100, 10)
y2 <- rnorm(100, 20)
x <- 1:100
plot(x, y, type = "n", ylim = c(0, 40), xlim = c(0, 120))
lines(x, y)
lines(x, y2, col = "red")
text(locator(), labels = c("red line", "black line)"))
