Containers are important for any character. They make it so you can carry much more than you normally would be able to without them. For best results, use worn containers.

Weight reduction = % by which the container reduces when full. i.e. hobbit-made backpack makes 6 bottles weigh 4, so thats a 33% reduction

Complete Listings

Name	Capacity	Weight Reduction	Empty Weight
a hobbit-made backpack	6	33%	2
a bag	6	33%	1
a fine fur pack(ranger)	9	33%	1
a large leather sack	10	40%	1
a leather backpack	10	50%	1
a fine fur sack(ranger)	11	55%	1
a large silk pack	15	33%	1
a canvas pack	16	38%	1
a fashionable knights pack	16	50%	1
a provision sack	20	35%	1
a rugged knapsack	22	64%	1
the belt of the giant	30	66%	2

Credit

Information taken from notes gathered by GhanimX, notes found on proboards, and some stuff from cosms site.