The type of you use depends on what you’re planning to do – some are designed to drill a hole; others are designed to drive in a screw. The chuck holds the drill in place, with the jaws tightening and gripping the bit as you rotate.
High speed steel (HSS) bits are one of the most common and are best suited for everyday drilling through wood, metal and plastics. A brad point (or w-point tip) bit is best for drilling very clean holes into wood or for jobs like dowelling, as the outside cutting edges do most of the work before the centre breaks through.
Masonry bits are best for drilling into bricks, concrete and stone and are usually used with hammer drills.
If you’re specifically working with metal, a cobalt drill bit works best, as it’s resistant to high temperatures and abrasion.
Screwdriver bits are exactly what they sound like, with flathead and Phillip's screwdriver heads – they can make light work of assembling furniture!
For the ultimate all-in-one, opt for the multi-purpose bit, which can drill through most materials, including wood, bricks, concrete, ceramics, plastic and metal.