Final answer:
STM has a small capacity and short retention time, with rapid forgetting due to memory trace decay or interference. LTM has a vast capacity, stores information continuously, and includes both explicit and implicit memories, requiring consolidation for stability over time.
Step-by-step explanation:
Differences Between Short-Term Memory (STM) and Long-Term Memory (LTM)
The differences between Short-Term Memory (STM) and Long-Term Memory (LTM) can be summarized in terms of capacity, rate of forgetting, and type of code. STM is known for its limited capacity, typically around seven bits of information, and its information lasts for about 15 to 30 seconds before it is either stored in LTM or forgotten. This rapid forgetting can be due to memory trace decay or proactive interference. In contrast, LTM has a virtually unlimited storage capacity and is meant for continuous storage of information. LTM includes explicit and implicit memories, with explicit memories being those we consciously try to recall. Quick decay is not characteristic of LTM, and consolidation into LTM can take hours to weeks, or longer.
Memory consolidation and encoding specificity are essential processes that influence how memories transition from STM to LTM and how they are retrieved. Memory consolidation refers to the solidification of memories from STM to LTM, while encoding specificity outlines how the context in which a memory is encoded can affect retrieval.