A Binary Code is the language that computers speak. It is a series of on/off determinations represented by the numbers 1 and 0. A single on/off determination is called a bit.
8 Bits make up a byte which is able to represent a single character on a computer screen (letter, number, etc..).
A thousand bytes is a kilobyte, and a thousand kilobytes is a megabyte. Continuing in this x1000 pattern with Gigabytes, Terabytes, Petabytes, and so on...
Here is a link that gives examples of how much information that these orders of magnitude of memory can store.
http://www.jamesshuggins.com/h/tek1/how-big.htm
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