Loop your extension cords, never wrap them tight.
Use the over-under technique. It’s the only method that prevents internal wire damage and keeps the cord from turning into a tangled mess.
The problem with the common “wrap around your elbow” method is that it twists the cord with each loop. That twisting stresses the copper strands inside, causing kinks and eventually cracks in the insulation. The over-under method (also called the “electrician’s coil”) alternates loops so the cord relaxes naturally—zero twisting. Takes ten seconds to learn, and there are videos everywhere.
Store the looped cord loosely on a peg, in a bucket, or on a cord reel designed for extension cords. Don’t hang it on a nail by one end—that bends the wire at a sharp angle and creates a weak spot. Also keep it out of direct sun and extreme cold; UV and temperature swings make the jacket brittle over time.
A good cord costs real money. The over-under method and a basic storage spot will make it last until the plug breaks, not until the wire gives out.