Yes, that's how I wound up with a closet full of empty bottles. I've only reused bottles that came into my house full, so who drank from them isn't really a concern, aside from the fact that they'll be cleaned and sanitized before the next use.
What I do:
- Fill container with bottles turned upright (a 5-gallon bucket will hold 13 12-oz bottles, and I can get 30 in my cooler).
- Pour 1-3 teaspoons of Oxiclean Free into each bottle (I'm pouring from the scoop, so it's certainly not exact), and dust the inside container with about another 1/4 cup
- Fill each bottle with hot water from the tap until it's bubbling over (this step is simply to keep them from floating during the next step).
- When all the bottles have a good amount of hot water in them, fill the container with hot water until it's at least half an inch (1.25 cm) above the bottle tops
- Let the bottles soak overnight.
The next day (or the next day I get a chance), I rinse and remove labels. Many labels will float off in the cleaning solution (This will probably happen for the easiest bottles to reuse, according to the answers to this question). You'll have to work to remove the glue from some brands. That may or may not be worth your time.
If you're particularly concerned about sanitation, you can soak the bottles in star-san before storage. I'm lazy, though, and figure they'll pick up more dust and such while they sit, so I just wait until a few hours before bottling to worry about sanitizing them.