This quick and easy drill bit rack can be made to accommodate the bits you use the most.  Hang it right next to your drill press for quick access.  A little scrap 2 X 4 is all you need!

One board, quick & easy to build, this drill bit storage/organizer is easily adaptable to fit any space in your shop and to store any kind of drill bits... or router bits.

Read the original article below (click on the image to enlarge):

A word of caution... Forstner bits are sharp so be careful when handling and be careful where this rack is placed.  If it is going to be in an area with foot traffic, consider building a hinged cover for the rack.  Also, a sizable collection of Forstner bits can be very heavy.  Make sure the rack is mounted in such a way as to support the weight.