How do you keep track of your router bits?

The title says it all…

For the woodworkers in the crew, how do you keep track of and store your router bits.  I bought a systainer with a foam insert that I’m planning on using to store the bits, but I’m having second thoughts.  Specifically, keeping track of the specifications of the bits once they’re stuck into the little foam holes.  

Does anyone have a good way to keep track of this to tell the difference between a 5/16″ round over bit vs a 1/4″ bit?  I guess I could come up with a map of which bit goes into which hole, but that seems like you’re one sloppy clean up away from chaos.  I thought about color coding the bits and the holes with something like nail polish, but I don’t exactly have access to lots of it and going to Target to buy thirty bottles of nail polish isn’t really high on my list of fun things to spend money on.

Building a special drawer insert board with holes / labels might work, but I’m a little short on storage space and drawers (i.e. I have none in my garage).

What ideas have you guys seen or built to solve this problem?

I haven’t gotten this far yet. I currently just store my bits in the original packaging. I don’t think color coding is the best option especially when there is so many different kinds of bits. I think some kind of label would be alright. Tedious to get one for each bit though.

Thus far in a drawer in my Dewalt tool box but with the Kreg router table I have yet to assemble, I’ll be building a wood storage cabinet underneath and making custom drawers.

I took a 2X8 and drilled a bunch of holes, wrote the description in the open space. It just sits in a drawer. There are inserts that are better than just drilling a bunch of holes in a piece of scrap but I didn’t think it needed to be pretty. Tip: Drill the holes 5/16 and 9/16 so it’s not super tight when the wood swells.

I recently bought the rockler route bit storage inserts. i plan to make a door like Jon Heisz (wrong spelling im sure) on youtube) did in his miter saw station. the rocker inserts allow for either 1/4 or 1/2″ bits to fit in them. at the moment all my whiteside bits are in their original package and in my router bag. 

I tracked down zip ties with flags and printed up some labels to identify which bits go into which slots. Here’s the final result. 

At home I keep them in a drilled out 2×6 in my box at work I keep them in a small plastic organizer. I don’t bother labeling them, I can tell what they are by looking at them or checking some with a tape measure.