Abstract: The present invention is a quick-kill formulation that is able to kill organisms such as bacteria, viruses, fungi, mold, spore-forming bacteria and combinations thereof. In addition, the formulation contains a residual kill component that is effective for at least one day. The unique formulation is effective without being corrosive. This is an advantage that allows it to be used in a wide range of applications, one application being in the medical field for sterilizing instruments. Another improvement of this formulation over the prior art is that it is stabilized such that, unlike prior art formulations, tap water, as opposed to distilled water, may be used in its manufacture.