Cloud computing refers to using computing resources that are delivered as a service over the Internet. It allows users to access applications, databases, and storage from anywhere using a web browser or other simple front-end interface. Key characteristics include virtualization technology that pools resources and shares them over a network, as well as frontend and backend components with the frontend accessing resources through the backend. Common deployment models are public, private, hybrid, and community clouds, while common service models are infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Cloud storage specifically refers to storing data and files on the Internet through a cloud computing provider.