Before I put my house on the market, I did a lot of crafts. Since the house has been for sale, not so much. Anyway, I am not a big fan of things made specifically for organizing craft stuff because my stash tends to grow and most things are not that scalable.
This requires that you have shelves. Putting up shelves is pretty cheap and easy, so if you don’t have any yet, it is pretty cheap to get the wood and brackets from any home improvement store.
Once you have shelves, the clear plastic “shoe” boxes have worked great! I label each one and have a ton of them, but the beauty of the clear plastic boxes is that I can add to it whenever I feel like and if it gets smaller (as if!) then I can use the boxes for something else. You could use any size boxes too, as long as you pick a size you can use for something else. Because I am phycho about this stuff and a little anal retentive, I picked two sizes (one big and one small) and but all my boxes in one of those two sizes. Since I only use one size for this stuff, I know they will all be the same size and sit on top of each other very well. Having just one or two sizes makes storage of the empty boxes (as if!) easier as well.
I have each box labeled. I am sure you could use hand-written labels if you wanted to, but I use label-maker labels, because I like the way they look and they are all consistent. Never underestimate the power of a good-looking label! I was initially very skeptical of the labels, but I am now a firm believer.