Use explicit tags when necessary, and use general selectors when necessary. One of the added benefits is the likely speed of selecting the proper element when you use the tagname. Plus this will help you while viewing the markup to know what is what:
h1.title { font-size:18px; }
h2.title { font-size:14px; }
p.title { font-size:12px; }
In this case, it's not only helpful to me to know what the tag is, it's absolutely necessary in order to distinguish between multiple classes. As other have suggested, this is really only the case with className's, since they can be used for multiple rules, whereas ID's are supposed to be used only once per page to represent a specific element on the page.
So in reality, use the explicit tag-references when it's necessary (notice my multiple .title classes), and when you want a bit of added understanding whilst viewing your stylesheet.