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Around here I have more odds and ends than I know what to do with. I used to keep it in piles strewn about our tiny apartment until my fed up girlfriend came up with a solution to make the room a little more organized.
It basically involved drinking a lot of bottled water and using the jugs the water came in to store stuff. Using her method, not only do you get a $2 rugged modular plastic storage bin, but you also get 2 gallons worth of drinkable water for free. I highly advocate such a storage system. Especially if you are overrun by small parts.
Step 1Drink water
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Before you can even consider starting to store stuff in the plastic water jugs, you have to drink the water they're holding. It's recommended that you drink 8 full glasses of water a day. However, drinking a little more than that will not hurt you and may, in fact, be beneficial. If there are two people drinking water from the container, you should be able to go through one in about two to three days.
http://www.abebooks.com/products/isbn/039470228X - Nomadic Furniture by James Hennesy and Victor Papanek
Your waterjug idea is great (except it's better not to use bottled water if the local stuff is safe to drink, right? Unless of course you need the bottles for storage.)
Or a pop-rivet with a couple of spreader washers?
These water bottles are not common here, we can drink our tap water.
The extra water is similar to dehydration, because it removes the salt from your body, similar to what happens when you sweat and don't get electrolytes.