High-speed steel (HSS), cobalt steel, and tungsten carbide are the best materials for metalworking micro drill bits. HSS is popular due to its toughness and resistance to wear, making it suitable for drilling softer metals. Cobalt steel, an alloy of HSS with 5-8% cobalt, offers enhanced heat resistance and durability, ideal for harder metals like stainless steel. Tungsten carbide, a composite of tungsten and carbon, is extremely hard and wear-resistant, perfect for precision drilling in hard materials but more brittle than HSS and cobalt. Coatings like titanium nitride (TiN) or titanium aluminum nitride (TiAlN) can further enhance performance by reducing friction and increasing heat resistance.