Can recorded waypoints be linked to recoded tracks?

When I'm recording a track, if I save a waypoint, it shows up in my list of saved items as a completely independent item.  Is there any way to have it linked to / embedded in the track?

I often record waypoints that are specific to that hike or that day and wouldn't want to view them unless I'm viewing that track.  Also if I save a few waypoints during a hike, my list of "saved" will be cluttered with 75% waypoints, instead of just listing the hikes and boke rides I've recorded.