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I use a simple canvas messenger bag for EDC. I keep basic /out/ stuff in it but I also keep a netbook and other stuff in it.
For hiking I like to use a Everest. Its cheap and not the best, but I figure by the time it wears out I can get a new one. The one I have now I've had for about 3 years and has been on about 12 hiking trips but its starting to wear out. I'd say its not to bad for 35 bucks, pic related.
But I'm not gonna lie to you, its pretty uncomfy, and the straps make it hard to keep the weight off your shoulders and on your waist. If anyone can suggest a pack in a similar price range that is good I'd love to hear a name.