ELI5 Memories - how do our brains store them?

What is happening physically in us when we create a memory? Do our brains move memory in our brains when they transition from short term to long term memory? Why are different types of memories stored in different parts of the brain? What happens to memories when we are drunk?

... We explain like i'm five!

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: lyusifer, tohellwithclevernames, userxblade, gnonthgol, corvinousboy, riedgu, dragonclaud, rebelscientist, fronw-umbrella & emhaz4

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