When it comes to router-bit storage, I could write a book. I've tried everything, but I think my latest design is a keeper.
I prefer to keep my bits protected in a drawer. At first, I just drilled some holes in a block of MDF and set that into the drawer. But it proved difficult to thread my hand through the forest of sharp carbide when reaching for a bit. Several bandages later, I had a better idea. I cut 3/4-in. MDF into square blocks small enough to fit in a row inside the drawer but big enough to hold my panel-raiser bit. I left about 1/16 in. of clearance around each block so I can easily lift them in and out. It's best to keep the blocks square, so you don't have to turn one this way or that to fit it in its space. I drilled holes for the 1/2-in. shanks using a 33/64-in. twist bit and for 1/4-in. shanks using a 17/64-in. bit. The slightly oversize holes allow the bits to slip easily in and out.
To avoid reaching into the sharp bits, I cut some 5/16-in. dowel stock to make handles for lifting the blocks. The knobs at the top are made from 3/4-in. wooden balls I picked up at a craft and hobby store. Now it's easy to select just the bit I want and take it right to the router table.
Enco, (800) 873-3626, www.Use-Enco.com
33/64-in. twist bit, #300-0133, $4 ea. 17/64-in. twist bit, #300-2317, $3 ea.