Store multiple bits of each size. These cabinets have drawers marked with the sizes and decimal equivalents. They can be stacked up to three high.

Measure drill bit sizes with these gauges.

The flutes spiral in the opposite direction of other bits and stay sharp longer than high-speed steel. They’re primarily used to remove stripped screws. Choose a bit that’s slightly smaller than the diameter of the screw’s head. Set your power tool to rotate in reverse. Slowly drill in the center of the screw head, maintaining constant pressure. As the bit penetrates, it will catch onto the screw and reverse it out of the hole. If the screw is badly stripped, you might need to punch a starter hole. Also known as reverse-flute bits.

The hardest and most wear-resistant bits with the longest life. Straight flutes withstand the heavy pressure needed to penetrate hardened steel. These bits cut more aggressively and resist stress better than spiral-flute bits. Carbide stays sharp at high temperatures and faster speeds for the best performance on hard and difficult-to-machine materials. It can be brittle, however, so these bits require a rigid machine tool holder to prevent breakage and should not be used in hand drilling applications.

Cut clean holes in abrasive material without fraying or delaminating the surface. Made of carbide, these bits resist wear to retain a sharp edge, even after after hundreds of cuts.

Avoid clogs and dissipate heat with cobalt bits that last at least twice as long as high-speed steel. The flutes clear chips to improve coolant flow and prevent damage to the bit and the hole. They also speed up drilling since you don't have to stop to clear the bit manually.