Instead of re-imagining the spell, I'll turn it into the item(s) that it might as well be.
Material Methods of Protection Against Evil
I'll have more to say on the subject of evil at a later time (Emmy Allen's essay on the topic was quite inspiring), but for now treat "evil" as related to demons and evil spirits. These are, at least in my default setting, generated by human action and belief just as gods are. None of these methods will stop an orc from burying an axe in your head, nor stop any spirits that are not demons. (With the exception of salt, which works on all spirits.)
A circle drawn in salt will create a barrier which spirits may not pass. One unit of salt per HD of the entity is required to maintain the barrier. If the circle is disturbed, the spirit will be able to escape. Material beings are able to pass over the circle, though most animals will instinctively avoid it.
A bag of salt costs 10 silver.
Burns evil spirits with 1d8 damage. Particularly zealous water burns for 1d10, socially religious water burns for 1d6, and mildly devout water burns for 1d4.
Holy water costs 25 silver.
Anointing with Oil
A mark is made upon the forehead, preventing possession and defending against mental effects for one hour. Length of effect is doubled if it is applied by ordained clergy or otherwise holy individual.
A vial of oil costs 100 silver and has enough for 6 uses. A permanent tattoo may be made by a specialist, for a cost equal to the character's first level-up.
When burnt, produces a strong, pleasing smell that makes evil spirits sluggish and slothsome. Those effected (within 10 feet of the group) always act last in initiative and have a 2-in-6 chance per turn of not making an attack. The smell clings to clothing and is impossible to mask - sensitive noses can detect it from adjacent rooms.
A cake of incense costs 15 silver and burns for 2 hours. A thurible costs 50 silver.
Provides wearer with a certain amount of psychological support, granting a minor bonus against fear. Substantial additional effects are unlikely, but possible.
Talismans range from 1-100 silver.
Laying on of Hands
A minor sign. Acts as Bless when made by a ordained cleric or holy individual as part of an appropriate ceremony.
No cost, but you'll probably have to sit through a sermon.