IPA: /ˈtuːlˌbɒks/
KK: /ˈtuːlˌbɑːks/
A container used for carrying or storing tools, often with compartments for organization.
He opened his toolbox to find the right wrench for the job.
Toolbox → It is formed from "tool" (from Old English *tōl*, meaning an instrument or implement) and "box" (from Old English *box*, meaning a container). A toolbox is a container for tools, used to store and organize them.
Think of a 'container' ('box') that holds 'instruments' ('tool') — that's what a toolbox is.
No commonly confused words.