The Washington Post published a timeline of hard drives over the past 50 years and shows how far storage technology has come along. For instance:

1956: IBM ships the first hard drive, the RAMAC 305,which holds 5MB of data at $10,000 a megabyte. It is as big as two refrigerators and uses 50 24-inch platters. (For the full story and interviews with key players, read  The Hard Drive Turns 50 .)

To put this in perspective, 5 MB is the average space occuppied by a single high quality MP3 song. 

... (Original Post)