Tatsujin, I would suggest reading
this. It's a fairly short explanation of what RAID is, the differences between RAID levels, and a bit of additional stuff. For your purposes, you'd probably only need to read about RAID 1, 5, and maybe 6.
The key advantages of using an external RAID for storage would be the following:
1. Data redundancy - RAID 1, 5, and 6 all allow for a hard drive failure without the loss of data.
2. You no longer have to store that data on your desktop computer. Most external raids can be hooked up to your network and you can stream media from it. (NAS)
3. Alternatively you can still have your copy on your computer and make a backup directly from your PC to the external unit. (DAS)
RAID right now usually isn't that hard to set up. It depends on your implementation and what you want to do with it. It should be a fairly simple task to set up a 4 disk external RAID and attach it to your network (NAS), or PC (DAS). A bit of a warning. A 4 disk external NAS would be fairly expensive to setup, and at that point you might be better off setting up a home RAID server instead. Network attached allows for streaming to any computer in your network, but might take a bit of tweaking to set up. Direct attached storage usually will require a PCI or PCI-X RAID card to be installed in your PC. So both implementations will require some work, but online sources for help and documentation is pretty good.
tl;dr of the link
RAID 1 = Mirrored. You take the data capacity of the smallest hard drive, multiply by the amount of hard drives and divide by 2 for your total capacity. (ex: 4x 1TB HDs = 1TB*4/2 = 2TB of mirrored storage.) RAID 1 allows for 2 disk failures in one mirrored set.
RAID 5 = Striping with parity data. You take the data capacity of the smallest drive, multiply by the amount of drives, and subtract 1. (ex. 4x 1TB HDs = 1TB*4-1TB = 3TB of storage with parity data.) RAID 5 allows for any one disk failure.
RAID 6 = Striping with dual parity data. You take the data capacity of the smallest drive, multiply by the amount of drives, and subtract 2. (ex. 4x 1TB HDs = 1TB*4-2TB = 2TB of storage with dual parity data.) RAID 6 allows for any 2 disk failures and also protects against another drive failure while the array rebuilds. If another disk goes down while rebuilding in RAID 5, you lose everything. The same can happen in RAID 1 if the "wrong" disk goes down while rebuilding. It also has an advantage over RAID 5 being able to protect data against an uncorrectable bit error rate.
Each of these RAID levels have a certain amount of redundancy, and different levels of performance. For just storage the performance hit won't be noticeable.
There's both benefits and disadvantages to each RAID level. I run with a 6x 750GB RAID 6 in my own desktop right now for a total of 2.72 TB of storage. Once I fill that up, I'll probably move my RAID card and drives to a home server instead and expand it.
Edit: I forgot to mention JBOD, that's covered in the FAQ briefly. I won't go over it though because quite frankly it's a waste of time and a waste of a storage controller.