Traditional twist bits usually come in a set, with a perfectly organized case or box with the dimensions clearly marked, so that you can find what you need easily. Most even close and stay stowed.
Then, there’s all those other bits you eventually amass: all sorts of driving bits, spade bits, countersink bits, combo bits, and bits, bits, bits, bits. Here’s a few options to keep them off your bench and shelves and out of trays and drawers.
Magnetic Knife Rack. BHG via Lifehacker.
Handmade Vinyl Organizer. 43 Things.