I don't have a drill bit set, since I wouldn't use most of the bits in typical sets. I buy individual bits depending on what I need for a project. I now have a motley collection of bits in various sizes, material, intended use and wear (often they come in sets of two so I'll have one "used" and one "new"). I can't easily identify a drill bit at a glance. Their original packaging is to bulky and fragile to use as storage.
Is there an easy, inexpensive way to keep them organized so that I can tell at a glance which bits I have and which is which? It should be a flexible system, that doesn't need to be re-set every time I go and buy a new bit – so it can't be a box with non-customizable slots for different bits, for example.
The best I can think of is to use a label printer to print flag-style labels and affix them to the base of each bit. I guess it's better than nothing, but I'm hoping for something more elegant.