Main storage

Main storage is also called memory or internal memory (to distinguish from external memory, such as hard drives).
RAM is Random Access Memory, and is the basic kind of internal memory. RAM is called “random access” because the processor or computer can access any location in memory (as contrasted with sequential access devices, which must be accessed in order). RAM has been made from reed relays, transistors, integrated circuits, magnetic core, or anything that can hold and store binary values (one/zero, plus/minus, open/close, positive/negative, high/low, etc.). Most modern RAM is made from integrated circuits. At one time the most common kind of memory in mainframes was magnetic core, so many older programmers will refer to main memory as core memory even when the RAM is made from more modern technology. Static RAM is called static because it will continue to hold and store information even when power is removed. Magnetic core and reed relays are examples of static memory. Dynamic RAM is called dynamic because it loses all data when power is removed. Transistors and integrated circuits are examples of dynamic memory. It is possible to have battery back up for devices that are normally dynamic to turn them into static memory.
ROM is Read Only Memory (it is also random access, but only for reads). ROM is typically used to store thigns that will never change for the life of the computer, such as low level portions of an operating system. Some processors (or variations within processor families) might have RAM and/or ROM built into the same chip as the processor (normally used for processors used in standalone devices, such as arcade video games, ATMs, microwave ovens, car ignition systems, etc.). EPROM is Erasable Programmable Read Only Memory, a special kind of ROM that can be erased and reprogrammed with specialized equipment (but not by the processor it is connected to). EPROMs allow makers of industrial devices (and other similar equipment) to have the benefits of ROM, yet also allow for updating or upgrading the software without having to buy new ROM and throw out the old (the EPROMs are collected, erased and rewritten centrally, then placed back into the machines).
Registers and flags are a special kind of memory that exists inside a processor. Typically a processor will have several internal registers that are much faster than main memory. These registers usually have specialized capabilities for arithmetic, logic, and other operations. Registers are usually fairly small (8, 16, 32, or 64 bits for integer data, address, and control registers; 32, 64, 96, or 128 bits for floating point registers). Some processors separate integer data and address registers, while other processors have general purpose registers that can be used for both data and address purposes. A processor will typically have one to 32 data or general purpose registers (processors with separate data and address registers typically split the register set in half). Many processors have special floating point registers (and some processors have general purpose registers that can be used for either integer or floating point arithmetic). Flags are single bit memory used for testing, comparison, and conditional operations (especially conditional branching). For a much more advanced look at registers, see registers.
For more information on memory, see memory