These area of life can make me a little crazy. Once kids arrived in the picture medicines invaded the house.
I have two small plastic boxes with lids in my hall closet. One has first aid supplies and the other has medicine in it. This is where all medicine is kept that can fit in a box. On the shelf next to these two boxes are the larger bottles like Pepto, throat spray, etc... This is very simple and keeps everything is a safe and organized place.
Every so often I pull out the box and clean out the expired meds. I love having them all in one spot so when someone asks me for a band aid I don't have to go search the house in every cabinet looking for it. I know exactly where it is. Or if the kids need medicine I can go to one place and find it.