Holographic memory is a high-density data storage technique that uses holographic images, capable of storing up to 1 terabyte in a medium the size of a sugar cube. It involves the diffraction of laser beams to create and retrieve data as holograms, with error correction methods to manage the high density of information. With applications in various fields including packaging, credit cards, and future computer systems, holographic storage presents significant potential for advancement and cost reduction in data storage solutions.