The multi-store model of memory is a psychological theory that explains how information is processed and stored in the human brain. It consists of three main components: sensory memory, short-term memory, and long-term memory. Information first enters sensory memory, where it is briefly held before being transferred to short-term memory, which can hold a limited amount of information for a short duration. If information is rehearsed in short-term memory, it can be encoded into long-term memory, where it can be stored for extended periods. This model helps to understand how we remember and forget information, highlighting the distinct stages of memory processing.