Although fishing tackle was made to be used in water, believe it or not water can be your tackle's worst enemy. Saltwater is corrosive to virtually all metals and even freshwater can cause rust if left unattended. Therefore it is very important to thoroughly rinse down your tackle with freshwater after you've finished fishing and allow it to completely dry before storing in your tackle box.
Many tackle boxes will hold moisture for long periods of time and promote rust and ruin your tackle. One way to keep unintended moisture out of your tackle box is to put a small pack of moisture absorbing silica gel in your box. When you buy a new pair of shoes, a packet of this silca gel is normally included in the shoe box, it's also include in the package of your favorite beef jerky. So instead of throwing them away just save them for your tackle box. If this seems like too much work, you may want to invest in tackle that has components made from stainless steel or duratin which is usually a little more expensive but won't rust as easily.
The sun's ultra-violet rays can degrade the color of any bait over time. So it's best not to store them in direct sunlight. There are several semi-transparent tackle trays that are available on the market today. These trays will not protect your bait from the sun's rays. In fact, if they are stored in direct sunlight they too will become brittle, crack and leak.