Store them in a cool, dry place away from direct sunlight. Keep capsicums dry as moisture makes them rot faster. Refrigerate the peppers unwashed, in a plastic bag and consume within a week. Resort to refrigeration only when they cannot be consumed immediately. 
Red bell peppers can be used for a wide variety of dishes due to its distinct flavour and scent. Can be grilled,roasted, baked and sauteed. Widely used in salads, pastas, pizzas, pepper sauce and even for flavouring curries.