Windows Azure Storage

Windows Azure storage consists of blobs, tables, and queues. It is accessible with HTTP/HTTPS requests. It is distinct from SQL Azure.
If you try to create a storage account from Azure Portal, you have to enter following details.

Location/Affinity group - A geographic location of you cloud service deployments which will affects for the performance by putting near to your target audience.

Geo redundant replication - This enables replicating your data in to a secondary location within the same region. This enable the fail over handling.

Locally redundant storage - Locally redundant data is replicated three times in same data center. All storage in Windows Azure is locally redundant.

After you create the storage account in the dash board you can see the end point URLs. This represents the namespace of blob, queue and table in your storage.

Container - This provides set of storage types. A storage account can contain an unlimited number of containers.