Eels are one of the most versatile baits for striped bass.
Different methods come from different areas.
In areas with deep water over under water reefs they are fished with a large sinker and 3 way swivel.
The main line is attached to the 3 way, 18" of 40 or 50 lb floro and a 6/0 circle hook go to the middle eye,the sinker is attached to 2' of 20lb test and a breakaway rig,just like the one used in some bottom hi-lo rigs.
Circle hooks work best for this set up because the bait is often taken before you feel the bite,heavy tackle is the key here.
Up my way (Merrimack river mass) eels are drifted,trolled(with an electric motor) and plugged.
when drifting eels,river mouth,under water reef,under water mussel beds,rock piles and sandbars make good ambush points, 20- 30lb test line and a 18-24" length of 25lb floro carbon leader and a 4/0-6/0- hook (I like Gamigatsu octopus style) will give you a shot at a decent fish,a small rubber core sinker can be added if you feel the eel isnt getting to the fish(bottom) but I find this un necessary most of the time.
I combine trolling and plugging, when fishing the river 20lb test is as light as I go,my standard trolling outfits are 6 1/2' lami glass customs and Penn 320 GTI lever drags loaded with 60lb power pro with a 6' 40lb shocker leader and a 18" 25lb floro leader,a #30 lb barrel swivel connects the rig to the leader and a 4/0 Gami is at the business end.
The eels are trolled with the tide,just fast enough to make headway speed,look for mussel beds,creek mouths and grassy banks, while trolling ,another eel is cast and retrieved (slowly) up ahead and to the boat,with fantastic results. Make sure you reel all the way to the boat,I cant count the baths Ive seen guys get when they lifted the bait as a bass made a last effort to snag the eel.
Fishing the beachfront I'll go lighter if the fish are fussy and the water is loaded with fire,15lb line is standard for my casting outfits,I use custom made lamiglass 6' rods and shimano 4500 baitrunners, where there is nothing to break off a fish on,the technique is similar,I troll the edges of sandbars and plug the eel into the surf-line,on beach-front rock piles like we have at boars head,Ill use the electric motor to work the boat in and around the rock while i plug the eels into the bones.
Handling eels can be a PITA if your not used to it,some people accuse me of having studded vise grip hands,i dont ,I've just had lots of practice.
For the beginner,get a pair of buckets that fit into one another,drill 1/4" holes into the "insert"to let the water out and put in a bag of ice,dump your eels onto it,they will take a nap...until.. they hit the water, handle them with a coarse dry rag,i like the standard red shop towel.
some times eels like to "ball " up and knot your line,a sharp smack on water will take the fight out of them most of the time,sometime a good beating is in order,as long as that sucker curls his tail...he'll catch fish. when moving from place to place I like to lay down the rig to keep the little squirmier from balling up,on the other hand if there is room I'll let 115 horses lay them out straight! a word of caution,check your leader often,when you break off a big fish is not the time to find a knot was in your leader
There is much more to it than what I've put in here,I'm sure others will chime in,and I'll add some more latter...tight lines.