I'll second Zarkonnens comment about KVM Switches as I use one for this purpose all the time. However I might share some rather frustrating experiences with them:
I have found that PS/2 interfaces tend to be somewhat more reliable on KVM switches than USB - I have had very bad experiences with some supposedly upmarket DVI-USB KVM kit from Gefen and Avocent. Due to a quirk of my Viewsonic monitor where it would drop back to analog most of the time these were exacerbated to the point of the system being nearly unusable.
DVI and USB are finicky. DVI monitors will often time out and sleep if they get no signal. The KVM switch will assume that there is no monitor if it is not active, which will then be passed back to the video card. USB interfaces will also get put to sleep randomly.
The net effect of this was that it was very difficult to get two machines to boot up and work on the KVM switch and the switch would lose keyboard or mouse input on one or both machines every few days. This was followed by an hour or more of trying to get all of the hardware to come up and play nicely. I got the same issue with the Avocent and Gefen switches on several different machines.
My older Belkin VGA/PS2 kit worked fine with the Viewsonic monitors on VGA but I spent nearly £1000 on switches and cabling to try and get a working DVI-USB KVM setup.
In the end I got two HP LP2065 screens that didn't have the bug that the Viewsonics exhibited. These have two DVI inputs and I used one of my older Belkin PS/2 switches to switch the keyboard and mouse. The computers are plugged directly into the monitor and the monitor's input selector is used to pick the computer. The keyboard and mouse are switched off the KVM switch. This is the setup that I'm using today.
The monitors and KVM have to be switched individually but it's much more reliable than the DVI-USB KVM switches that really did not work at all. Caveat emptor.