I have a novice question. What are the differences among bit holder v.s. hex bit socket v.s. nut driver? They all look similar. Can I use them interchangeably?
Bit holder v.s. hex bit socket v.s. nut driver
drill
Related Solutions
A knockout punch is typically capable of going through thicker metal - at the very least, it will do it faster. A quick search easily finds knock-out punches that can do 10 gauge steel, where most step bits don't seem like they'd do well beyond 16 gauge (though I can't find anything that really says the limit).
For thin metal though, the step drill bit is probably faster, if for no other reason than the setup/tear-down time of the punch (eg, after you punch the hole, you still have to unscrew the punch).
Knockout punch:
Step drill:
Have you tried using a Screw Extractor bit?
They are made for this purpose. You basically put it into your drill and when the drill slowly turns in reverse, the bit bites into the screw and tries to unscrew it simultaneously.
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Best Answer
You can use them interchangeably, as long as they're the same size.
A "bit-holder" will often be magnetized to hold the bit in (and incidentally holding the screw as well) while the other two can be, but it's not as common.
A "hex bit socket" or "nut driver" is probably more durable than a "bit holder" if it matters to you, for example if you're using a high torque impact driver.