We played in a room with plenty of space and we made the the deaf in one, blind in the other eye cleric sit on the couch away from the table (about 6 feet).
(Note: the person playing the cleric was not deaf or blind
Another way we handled it, was to write down anything that a major NPC would be saying (like script from a module or GM) and leave out words of the script and let them read it in another room while the GM read the entire script to the other players.
It got really interesting when only the deaf character was present to hear things.
Lastly, we made the player wear earplugs and an eye patch.
Now for more game related nonphysical things we would double the penalty for hearing something, and the GM would keep a large note infront of them reminding them of the cleric deaf in one ear, blind in the other eye.
Also all players were required to repeat anything they said to the cleric min of twice or the cleric would have to roll d6x10% to determine how much they heard
In combat or other loud situations the cleric always had to roll d4x10% to see how much they heard. It was up the GM to determine what parts they heard in the beginning.
After about 4 game sessions, all the players started getting into it and having fun.
Last note: it depends on how much your players are willing to put up with.
In another game we had a thief who lost from the elbow down his off hand. His character went out and committed sucide because the player did not want to play the character anymore.
In another game we had a mage who lost complete eyesight due to a spell gone bad. The player requested that the party take him back to the academy and afterwards the player retired the character to the GM's control and started up a new one.
So, make sure that the players (especially the one with the disability) is going to be able to handle it and role play.
I don't know why (snicker) but it seems players get attached to their characters
Dave Chase