Don't bother with it. Get your layout figured out, and after awhile you'll remember where everything is.
That works for a 14 drawer toolbox. Not so good when you've got over 100 drawers in the shop.
I have a 48 drawer wooden storage cabinet. Each has a brass frame that holds a paper card with a label. At least half are labeled. The rest either should be, or don't hold as important stuff.
Things with steel drawer fronts that get magnetic labels:
(1) 11 drawer Kennedy 52611 machinists box
(1) 8 drawer Kennedy 526 machinists box
(2) 7 drawer Kennedy 520 machinists boxes
(1) 10 drawer SnapOn top/bottom box
(1) 5 drawer Homak cabinet
(2) Sears workbenches with 9 drawers in total
(1) 3 drawer Waterloo bottom cabinet
(1) 3 drawer Kennedy bottom cabinet
(1) 11 drawer Huot top cabinet
(1) 5 drawer wall cabinet
(1) 10 drawer hospital cart
ok, I count 89 steel drawers here, but I know I'm missing some (and I'm not counting cabinet doors, or tool boxes that are not in active use)
Then there's the dentist's cabinet with something like 20 wood front drawers, and the two plastic storage cabinets (4 drawers in one, 5 in the other).
These get labels printed on clear tape.
My count comes up to 166. Again, this is all off the top of my head. I'm not in the shop, and not looking at any pictures, so I'm sure there are more than that. And yes, I do know what is in each and every one, but if my wife needs to find a pair of mini-pliers, the labels sure do help when she's looking, and they help me too.