It depends on the kinds of caches a person prefers to look for . . . For the kinds of caches I like to find, the most important things I take with me are food and water.
A lot of times a backpack gets in the way and can get kinda heavy. I dont believe if you are out on the hunt you really need to take food. Run back to the car and go get a sandwich at Jasons Deli and get back to caching. Everything fits in my pockets. Get a belt attatchmend for your gps and your good to go. Just take water in hand and pens in pockets. I think if you absolutely need a bag, get a waist pack to put the essentials in