For 30+ years I've had my chuck key chained to the drill press at home. Not
because I was punishing it, it would just get easily misplaced. (Larry J.
gets excited when he hears "Chained-Up".) I had a handful of 1/2" x 1/4"
cylinder neodymium magnets from a project so I drilled a hole in the top of
the chuck key and pressed in a magnet. These little guys have a 2 pound
pull and hold the key firmly to the drill press. The chain was a PITA and
would get warped up easily. It's also great for clearing swarf, I wrap it
in paper first.