Preservation of tools from rust, methods?

I read elsewhere that paraffin wac is not particularly effective. PRS1 ? aerosol is good. WD 40 I think is ok for shorter time. Camphor blocks are good to thrown in the drawer. VCI strips also apparently work.

I have a bunch of 5 gal plastic pails with lids. I’ve been storing a bunch of hand tools from my dad’s collection i Inherited. Then I sprinkle the inside with a bunch of cat litter.

My concern was moisture getting into the pail. And maybe getting rid of some of the more greasy/oily coatings.

Does this sound reasonable? I suppose the cat litter can be refreshed ever so often. #GeneralToolDiscussion