Actually evolutionary psychology has an explanation for this. I forget the name of the psychologist that coined the phrase, but he said, "Sperm is cheap, eggs are expensive". Thus, a man who is promiscuous is considered by society as a "hero", since he can go about and fertilize many females. Females on the other hand are not as flexible with reproduction and have to protect the child while it is being born. So, when society considers a promiscuous female a "slut" it is a defensive measure to ensure successful reproduction.
Keep in mind, I don't support this view 100%, is see what the psychologists are saying, but it does seem overly sympathetic to men.
The more you know!
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