Optical (CD-R,RW,DVD-R/RW, Blu-Ray):
Low capacity; slow to access; thin, light-weight, portable, cheap
Magnetic (Hard Disk drive, tape):
High capacity; quick to access; moving parts eventually fail, perform best defragmented, cheap
Solid State (SSD, Memory sticks, Flash memory cards):
Medium capacity; very quick to access; no moving parts, no noise, low power, no need to defragment; expensive