My tool collection aboard is pretty large. It fills a locker that must be 2x3x3ft. I mean it fills every square inch. There are a few things, such as the dremel and power drill, that live in their rigid cases, or multi meters, the cordless screwdriver, hacksaw, funnels, etc that standalone. Everything else is sorted into small soft duffels or zipped bags. There are several things most friends chuckle to know I have in there: a laser tachometer, a heat sensing gun and an endoscope that works on my cell phone.
I will completely empty this locker about once per year and assess what I really need aboard. All the battery cable tools (crimper, line cutter, stripper) all went to storage. This emptying/cleaning/sorting is usually motivated by the large desiccant bag I put in there to absorb moisture, that breaks open and spills the little beads everywhere.
Several years ago, I decided to get a climate controlled storage unit that is close to the boat. Home is too far away to be practical, if I need something last minute. It's also where I store the outboard, cushions, cleaning supplies, liferaft, etc, etc, over the winter now. I keep a quart or two of spare oil aboard, but a case of gallon jugs live there for oil changes. Much easier to make a few trips there, than all the way home and back. It's an indulgence, but has been one of the best things we've done to reduce workload. Like most storage units, it's starting to become a collection point, not just storage. It too needs to be purged.