You will find much discussion on this subject on the forum. Some rail against the idea, some advocate using tape but the bottom line is that it is a personal thing.
First of all, electrical tape is what most folks use althought I suppose something else could be substituted. One layer of tape should be sufficient. If you are doing some restoration and using a low grit stone, you may have to swap your tape and you may have to lightly lap your stone to clean it.
The biggest thing that you will have to do is to keep track of which razors are honed using tape and which are honed not using tape. Or, use tape all the time.