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Alternately, consider buying a cheap, used underwater flashlight. They're reliably waterproof, and, while a tad bulky, you could stick on in a regular fanny pack (as with the Otter box) and take it with you. Dump out the light bits, and just stick your stuff in the battery compartment.
Now that's a "bright" idea! doh!
I've seen 8D UK lights that would hold a subway sandwich dry to 200' for $10.