A computer consists of both hardware and software. The hardware includes the physical components like the central processing unit (CPU), memory chips, storage devices, input/output ports and devices. The CPU processes instructions stored in memory to accept data as input, process it, produce output, and store information. Common storage devices include hard disk drives, optical drives like CD/DVD drives, and flash memory drives. Software includes the system software that controls the hardware and basic functions, as well as application software that allows users to perform specific tasks.