Rust Preventatives:
Chances are, your hand tools have, at one time or another, exhibited some rusting. There are dozens, if not hundreds, of products that claim to prevent rust. Randy Maxey shows two products that are worthy of your consideration. One is very traditional and the other is a testament to modern chemistry.
Rust Preventatives
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I agree with Randall on all points. I live in the NE, Central Maine. Climate here is Cold and dry to Cool and damp to hot and humid. I have discovered (15 yrs experience) that keeping machine cast iron surfaces clean – no finger oil and dust free with light coat of CRC 3-36 lubricant or sewing machine (mineral based) works best here. Also, a simple trick on cast iron is to cover it with a cut to fit piece of plywood. Another tip, when storing fine drills, router bits, etc. is to immerse them in light weight oil/ power steering fluid. Just remove from oil and wipe out prior to use. Rust never sleeps but keeping moisture away from the [porous] metal is key. By applying a paraffin or mineral base oil, a barrier between the metal and the humid air exists. Happy Woodworking!