Thank you for the reply Nick
I have set bounce in 0.00, density in 10.0, also air drag in 0.7. I have a thick rectangle as a border and a very small object.
Now it works much more better. However the object still goes off the screen if I drag it very fast.
I don't have much hope, but would it be possible to reset the element's position automatically when it's off the screen, without any extra interactions?