Store router bits on perforated hardboard
If you're using router bits with 1⁄4 " shanks, you can simply slip the shanks into the holes of any empty section of perforated hardboard with 1⁄4 " holes. The shanks of the router bits will fit snugly and the bits won't fall out. If you use 1⁄4 "-shank bits, you can drill a few 1⁄2 " holes in your hardboard near where you do most of your routing. Space these holes far enough apart that the cutters on your bits don't touch.
—From the WOOD® magazine shop