Personally, I have these things scattered around the house, especially at the bottom of the stairs and in the basement hallway, bathroom, etc. They’re nightlights, but they turn on as flashlights if the power goes out. I also keep one of these keychain LED flashlights on my keychain. It’s amazingly handy.
UPDATE: Changed the link on the keychain flashlight. Reader Ben Samuel emailed that some reviewers on the other link were complaining that it was a counterfeit. Everybody seems happy on the one I changed it to. I think I bought through that link, though.