None of my carried kit is likely to be damaged by the sort of exposure, rain water or sweat, that I'm likely to see. I would also resist putting everything in a single place. As it is, scattered among pockets, I always have something to work with.

The mini-Bic and tiny Inova LED 'key-chain', not attached to my keys, light would need the water shaken out if I was dunked but I have had them in my pockets when I got soaked in the rain and they worked fine.