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tep:I'm still a (re)new(ed) diver, so I'm still trying to figure this out, too.
I'm thinking small-ish relatively inexpensive replacements for things that can break or be lost, but can be "fixed" in the field.
Straps for mask, fins. O-rings, backup mask.
I've heard others suggest backup reg and computer, but that seems more than "just a save a dive kit"
My kit bag is divided into 2 sections: Parts and tools
basically my parts include the rebuild kits for all the components of my regs (Spectrum 1st stage, Conshelf 2nd, Airsource 2). I also have extra o-rings (different sizes), Zip ties (different sizes), teflon tape, silicone grease, an extra fin strap, mask strap, mouth piece, extra LP hose, and extra adapter to convert the hose into a LP inflator for my BCD.
Tools wise, I've got 2 adjustable wrenches (6 inch and 12 inch), vise grips, circlip pliers, multi-tool, slip-jaw pliers, a file, an old credit card (for o-ring removal), nail cutters, sand paper, cotton, q-tips, toothpicks, extra port plugs, an empty CO2 cannister (3/8 size), a home made IP gauge, allen wrenches, a lighter, velcro tabs, an old toothbrush, thumb forceps.
Things like batteries (for light and computer) are in a separate kit as is my first aid-kit.
Basically everything I'll need to do a complete tear down and rebuild of my regs in the field. All I need is a bottle of white vinegar, then I'll be good to go.