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It's a good idea to carry at least one knife and axe with your camping and hiking gear. An axe can help when you're in the backcountry and on the lookout for firewood, while a folding knife with some accessories can come in handy any time. You can use it in the kitchen, for emergency repairs, and even for emergency-first aid if necessary.
The classic camping knife is the Swiss Army knife, but there are many other brands that work just as well in the woods. Many have locking handles, which the Swiss Army's don't, and many have bigger blades for hunters and fishermen. Many campers swear by a Leatherman's tool in their camping and hiking gear. Just don't get caught in the woods without a good sharp knife, you never know when you may need it.