If you go through as many x-acto blades as I do, then you have probably thought about how you can best dispose of them. A blade is one of those items that I never throw directly into the trash. I don't think they're safe for me or anyone else who may be handling the bag at some point, and I'm not aware of a recycling source for this sort of thing. I used to collect used or broken blades in a film canister for eventual disposal, but I don't buy film anymore. However, medicine bottles work even better.
Of course, I had to turn this "medicine-bottle-turned-blade-receptacle" into a craft table accessory. I tried to remove the label from the bottle, but with very little success, so I just covered it with a strip of scrapbooking paper, using gel medium as my glue and as a topcoat to protect the paper.
This also works well for disposing of broken sewing machine needles, and many medicine bottles have child-proof caps, which is a nice feature for those of you with small children.