Sharp drill bits are fun to use. They work so well. Dull bits are dangerous. They can break. One broke for me once and went through my thumbnail and out the other side of my thumb.
Step 1: A Dull Bit and a Sharp Bit
The bit on the left is a little dull. Notice the glint of light on the cutting edge between the two flutes. Compare that with the crisp edge on the freshly sharpened bit on the right.