Memory
Computers need to hold and store information before and after it is processed. It uses Memory to do this. Memory comes in two different types: temporary and permanent. Temporary memory is what the computer uses to hold what it is working on. The most common type of temporary memory is RAM (random access memory, but you don't need to remember that). RAM is wiped clean when you turn your computer off (that's why it's "temporary"). Increasing the amount of RAM is often an easy way to improve a slow computer.
RAM - temporary memory
Permanent memory is how your computer stores information it is not currently working on, but may need to access at some point. For example, you may have stored pictures or videos on your computer. Those will be held in permanent storage. When you use them (to watch or edit, for example) they will be loaded into RAM. There are many, many types of permanent memory, and they change pretty quickly. Three types you should be familiar with are hard disk drives (HDDs, or just "hard drives"), solid state drives (SSDs), and USB drives.
HDD and SSD