Memory involves three basic processes - encoding, storage, and retrieval. There are three types of memory - sensory memory, short-term memory, and long-term memory. Sensory memory only lasts a short time, short-term memory can hold information for 15-25 seconds through rehearsal, and long-term memory stores information more permanently. The hippocampus aids in encoding, the cerebral cortex stores memories, and the amygdala is involved with emotional memories.