Memory is an essential component of computers that is used to store programs and data. Computers typically have three levels of memory: main memory, secondary memory, and cache memory. Main memory is fast memory that stores programs and data being executed. Secondary memory is permanent storage for programs and data used less frequently. Cache memory sits between the CPU and main memory for faster access. Memory is also classified by location, access method, volatility, and type. The different types include registers, main memory, secondary memory, cache memory, RAM, ROM, PROM, EPROM, and EEPROM.