We've been discussing HD storage for our music collections and I have been recommending you build your library based on USB connected hardware to your computer. A 2tB hard drive can be purchased for $100 and it's fast and reliable, capable of a couple of thousand albums of storage.
USB is getting even faster with the introduction of the USB 3.0 standard. This standard is comparable in speed with the hard drive you have inside your computer! Most computers do not support this new 3.0 standard just yet, so purchasing a 3.0 USB drive won't really buy you anything other than the promise of considerably faster speed whenever you do upgrade your computer.
And there it is again - the obvious advantage of going with cheep and cheerful USB drives to store, backup and manage your music library. If you're just starting, make sure you purchase all 3.0 USB drives - typically they are only a few dollars more expensive and, as I mentioned, of no value for most of us right now. But whenever you decide to purchase a new computer, chances are excellent it'll have the 3.0 USB standard built in.
Great to build your library with the best storage around.