The RAM is where your computer does most of its work. Imagine you are in a classroom taking a test. There are blackboards on the wall where you can put notes to use during the test. RAM is your computer's blackboards. Then, it has faster access to this data.
RAM comes in many types that are specifically designed to work with certain components.
The type of RAM you have will be dependent upon the motherboard and processor you have. Generally, the more RAM the better, but just like the blackboards in the classroom, it can get to a point where its overkill. The storage drive can come in many forms but the most common is the hard drive. This is where all of your information is actually stored. It holds your operating system, programs, and any files you create.