Basic terms for computer

Input
Whatever goes into the computer is called input. For example text, graphic sounds etc. In every day life the example for input is a voting slip in a ballot. Input Devices
An input device is any peripheral (piece of computer hardware equipment) used to provide data and instruction to computer, for example keyboard and microphone. Every day life example is a hand that is used to put the voting slip in a ballot box. Thus hand is input device for ballot box.
Output
Anything that comes out of a computer is called output. For example sound of a playing video in computer is the output. 
output device
An output device is a hardware used to get the output from the computer. For example head phones are output device and used for listening sound in computer.
Processing
Computer is given the data and instruction as input, which is processed to create output in the form of information. Data is a raw form of symbols, numbers, images etc, whereas information is an organized, meaningful and useful form of the data. 
For example, some data (student roll number, name, total marks, obtained marks etc) from the mid exam is entered. Computer process the data, and creates a report of pass and fail students.
This report is more organized and useful for us, and thus information rather than just data.
Storage
Storage, also referred as memory, is the ability of computer to store data, information or instructions. It can save digital data on RAM, hard disks or removable memory.
Storage Devices
Storage devices are used to store data when they are not being used in memory. The most common types are floppy disks, hard disks and CD-ROM and DVD.
Hardware
Hardware refers to the physical elements of a computer. Examples of hardware in a computer are the keyboard, the monitor, the mouse and the processing unit.In contrast to software, hardware is a physical entity, while software is a non-physical entity.
Hardware and software are interconnected, without software; the hardware of a computer would have no function.
Software
How does computer use its hardware? 
The term software refers to programs or sets of instructions that the computer uses to perform computer operations. Software can also be described as a collection of routines, rules and symbolic languages that direct the functioning of the hardware. Software is capable of performing specific tasks, as opposed to hardware which only perform mechanical tasks what they are mechanically designed for.
We can think or write instructions,but can not touch them.
Characteristics of software
Software is intangible (you can not hold it like hardware).
It is weightless.
It does not exist as hardware.
Software is use to operate the computer.