Don't break a nail digging through a toolbox for a drill bit! Attach a magnetic knife rack to a shelf over your work bench, and voila... instant access to just the drill bit you need.
Yes, this works for other tools too, and you don't need to limit yourself to just one magnetic strip either.
Don't have a shelf over your workbench? Attach the strip to a pegboard, or the side of your workbench and consider attaching the strip vertically as well as horizontally.
Don't break a nail trying to find any tool or small part. A magnetic knife strip could be your new best friend in your garage.