I only store figs in Baggies. Figs are usually an afterthought when building a MOC so they don't tend to interfere to much with the building process. Some people can't afford extensive storage containers so baggies are a nice cheap alternative. Hence the baggies.
Will
After a long absence, I have returned. I can't wait to start building again.
I fancy myself as an army builder, so I like organization. A lot.
Space (Space Marines and SW):
In a small tackle box that has small sections on the top. The sections on the top house walkie-talkies, lightsabres, megaphones, and of course blasters from the Little Armory. Inside the box are all of me space figs, maybe 50 in all.
Castle:
One plastic box for all of the figs.
One of the segmented box for armor, helms, hats, hair, flags, and feathers.
One segmented box for the various kinds of weapons.
My hope is that in a few months when my wife and I move, I'll finally have a place where I can display my armies inall their equipped and tricked out glory. If not, I want to get a huge tackle box for all my figs and all their accessories.
I store my figures in ziplock bags. I do need to organize them because the western figs are with the town and castle figs. But usually torsos, heads, and legs, have been mixed anyway. Someday I will upgrade to plastic containers or a shelf for my LEGO.
I store most of them in plastic bins, or ziplock bags, or just arrange them into formations on 32x32 plates. A few are displayed, such as leader figs, kings, and etc.
Right now I store the unused figs all together in one drawer of a plastic organizer, and the rest of my pieces in Tupperware-type containers according to size. Sometime, though, I'd like to have some wall to wall, floor to ceiling shelf units with drawers in for *every* single size and color of piece. In other words, Red 1x1, 1x2, 1x3, 1x4, 1x6 etc. all in different drawers. Maybe even separating plates and bricks of the same size! That would take plenty of space, however...
Non-Castle figs all together in one big bin, Castle figs unsorted in LEGO boxes. The only figs sorted are my Black Falcons. Accessoires are sorted in the drawers.
I store my figs on the set (I keep them all built). If I have duplicates or figs from incomplete sets (ie, a collection I bought or something) they are grouped by theme in small buckets or shoeboxes or something like that.
It's not that many figs, I'm not an army builder like others. And no, I usually don't buy figs from BrickLink (way too expensive). Nor did I buy more than three Legend BBFs. I don't count the re-released BF-figs into my BF army.