Most tools are stored with other tools related to their primary or designed use. This means that screwdrivers are mostly all stored together in the hand tools rack, instead of in the paint cabinet. One set of precision drivers should live in the electronics bench though as they're frequently needed there.
Most hand tools live on the rolling tool racks in the storage area off the main shop between the paint room and the stairs. They are sorted into labeled bins, or have marked hanging spots.
In general, think about what a tool is most used for. e.g. Hot Glue Guns and Heat Guns are for applying or removing adhesives, so they're in the Adhesives(Stick and Un-Stick) bin. Even though a few folks always use the heat gun for the MakerBot, it's basic use best fits with removing adhesives, so it was decided it lives there, as more folks will be able to find it.
Most wood working appropriate power tools live on the 2nd shelf on the shelving next to the fence. Accessories for them (sand paper, bits, etc.) live in the hand tools area.
Most metal working type power tools are stashed about the Metal Area, with consumables/bits stored near them.
We're adding a page for each tool in our inventory so we can include specific information and/or documentation about it, or exactly what we have in that family of tools over on the Current Shop Equipment page.