In Terraria you can build a chest and use it to store up to forty items. Chests can also be used to secure blocks, as any block directly underneath the chest cannot be destroyed for as long as there are items in the chests that are placed on top of the blocks. There are many different types of chests. Only 27 of them can be crafted. Chests are similar to trash cans and barrels but they are each separate items.
There are two different types of chests you can make: wooden chests and meteorite chests. The wooden chests are made out of wood and iron/lead bars. The meteorite chests are made out of meteorite blocks and iron/lead bars.
Here is how you can use your materials to make a chest in Terraria:
1. Craft a furnace on a workbench.
Note: Before you can craft a furnace, you need at least four bits of wood, twenty stones, and three torches.
2. Once the furnace is created, smelt the ores into bars.
3. Ensure you have at least eight bits of wood and two iron or lead bars and use them to craft the wooden chest.
4. To find your chest in the future, stand next to the workbench and you will see the chest icon.
In conclusion, that is how to make chests in Terraria.