My Man and I have a houseful of children of many ages. We make it clear that Mama and Daddy's drawers and closets are not their business, and we respect their business by not ever going through their things, either.
That being said, we have several Sugar Sacs, which we store toys, cuffs, tethers etc in, which are kept in the Captains Drawers under our water bed, or under my dresser. If we needed to either something heavier, a Playchest or even a small locking safe (like they sell at Target for personal papers or medications ect) would suffice. They look like a hard sided suitcase. They are great for medications, which I DO lock up, and would work for Toys, if you don't feel comfortable using a Sugar Sac in drawers.
I don't feel the need to lock our toys (plus, not only are they harder to get at, sometimes the pretty pinks and purples of some of the chests attract child like attention) so putting the toys in Anti-Bacterial cloth bags, separated by cloth hankies works well for us.
Our videos are on a high shelf in My Man's closet, with some clothing in front of it. Our kids know MUCH better than to go into Daddy's closet for any reason.
I think a good blend of respect, trust, discipline and discretion is enough for most families with children and Adult toys.
Once we left a bottle of lube out, and one of my teens saw in on the head board and said, "EW. What do you have that for? You guys are old." I just smiled and asked her to respect our privacy and asked her to be happy her parents were still in love and still engaged in the activities which make her and her siblings possible.
However, I would like a suggestion for our new Hitachi. It's too damn big to put into either a Sugar Sac OR a small locking safe, so it's in the box at the back of my closet. Maybe a small backpack? I like to keep my A/C toys plugged in and ready. Nothing spoils the mood like having to find the toy, finding a place on the power strip to plug it in, and then having to do all that work when you are almost "there." I just want to have the toys ready to go.