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A small, multipurpose (type "ABC") fire extinguisher. These work for basically all common types of fires, including grease fires in a pinch (if you don't have a way to starve it of oxygen).

Examples:

https://www.homedepot.com/p/First-Alert-Tundra-Fire-Extingui... ($13)

https://www.firstalertstore.com/store/products/First-Alert-R... (larger and rechargeable, $37)

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Yes, I always have one. And when I lived in a house I had one on each floor.

I have a suspicion that in most cases a bucket of water (or a vase) would be more useful.

Depends on what’s burning. Fire extinguishers are generally more effective and safer. For some kinds of fires, water can make things worse.

In life or death situations where seconds count, it’s best to not have to think about a decision tree.

You never want to try to put out a grease fire with water, for instance.

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