Kmart has the Craftsman 52154 3-Piece Screw-Out Damaged Screw Remover Set for $9 in cart - 10% off with coupon code KMART10PSAVINGS = $8 with free in-store pickup or $6 shipping. Removes damaged Phillips, slotted, hex, Torx or square screws with any variable speed reversible drill or 1/4 in. hex driver.
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Junk and not enough selection of size, go visit harbor freight.
^ Harbor Freight is the last place to go if you think Craftsman tools are junk.
The majority of Sears reviewers had the main complaint that it wasn't guaranteed to get the screw out, primarily because it's just a tool to try, if the shear force of the remainder of a screw head is lower than the force needed to break it free, no screw extractor can get the job done. The other issue was some don't realize you have to put a LOT of force behind the drill when you start or you're bound to fail if it is stuck rather than only a damaged head.
At least with these the extractor itself doesn't break which was the complaint at HF, that they didn't even have a chance to get the screw out because the extractors kept breaking.
http://www.harborfreight.com/12-piece-screw-extractor-set-40349.html
I got this set a long time ago to help a friend get out a stripped Phillips screw out from a PowerBook G4. Even tho the screw was tiny this still got it out. (I think the only the screw head was damaged,screw was not cross threaded).
Dave_c is right, you must apply a good amount of force while trying to extract. Worked for me so it was totally worth it. I'll probably get another for family or a spare.
Ordered one. Only 8 bucks, Worth the try. There was time I wished I had these in the toolbox.
$8 worth a try.
$14 total. Hope I don't get screwed...