Storage is related to memory in that mutually both are used to maintain information. Storage devices make use of captivating or optical way to maintain data where memory utilizes an electronic circuit.

They do not store it for temporary purpose, which means they do not mislay the information they include when the computer is shutdown. They have larger ability but work very slow as compared to memory.

Hard Drive, Floppy Disk and Tapes are all storage devices which store the information magnetically. CDs and DVDs save information optically. Storage is used to save essential information like application (software) and many other data files.