The multi-store memory model proposed by Atkinson and Shiffrin in 1968 consists of three components: sensory memory, short-term memory, and long-term memory, each characterized by distinct encoding methods, capacity limits, and duration. Sensory memory captures raw information briefly, short-term memory holds limited information for immediate recall but decays quickly without rehearsal, and long-term memory has an unlimited duration and capacity. Various studies validate the existence and features of these memory stores, although some critiques suggest the model may be overly simplistic and does not encompass the complexity of memory processing.