Memory involves three main processes: encoding, storage, and retrieval of information over various time periods. There are three main types of memory based on duration: sensory memory (milliseconds), short-term memory (seconds to minutes), and long-term memory (relatively permanent storage). Memories can also be classified based on the nature of the information (declarative vs procedural) and the temporal direction of retrieval (retrospective vs prospective). Several models have been proposed to explain memory processes and storage structures, including the modal model, working memory model, levels of processing model, and Tulving's model. Factors like emotion, depth of processing, rehearsal and associations can influence memory formation and retrieval.