Fontographer still exists, it is owned and sold by Fontlab. It is no longer an industry standard, but it was for many years (certainly from 1992 - 1996) until it was phased out. In more recent years the Fontographer brand was resurrected by its new owner, Fontlab Inc., and it is sold as an inexpensive font design tool for the masses.
In terms of modern and professional tools for typeface design, you have three options (on the mac):
Fontlab Studio is the largest and most feature-rich, but it has not been significantly updated scince 2005. Fontlab 6 -- a complete re-write -- has been coming "any day now" for several years. The tool is being completely re-written.
Robofont is a very bare-bones editor, but is used by many professional designers. Robofont's strength is its scriptability and automation. While it does not come many "features" or much of an interface, you can do almost anything you want via python and there are a ton of plug-ins that have been written by the community that you can download and install.
Glyphs is the newcomer to the industry and I have seen a few professional type designers move from Fontlab or Robofont to Glyphs over the past few years. Glyphs is in the apple app store and is a modern, visual font editor.
If you have never designed a typeface before, I would suggest getting a copy of Glyphs app... it is user friendly and has good documentation... but is still powerful enough for professional use.
If you have some experience with type design -- or plan to go to school and focus on type design -- I would suggest getting a copy of Robofont. It has almost no documentation, but is the current "industry standard" among the professional type designers that I know.
Fontlab was the "industry standard" years ago, and is well documented but will change radically if and when a new version is ever released. I would not recommend it at this time.
If you are a design student, you can get a discounted versions. Contact the developer of Glyphs, Georg Seifert, directly via the Glyphs Website (
http://www.glyphsapp.com). Fredrick Berlaen, the developer of RoboFont, is amazingly generous to students but you will need to have your faculty contact him via the Robofont website (
http://www.robofont.com). In the past he has had faculty distribute and manage student licenses.