This website goes into great depth on how best to STORE your Bitcoins. It ranges from simple easy to setup methods, to more involved methods. These methods include bitcoin cold storage. Cold storage refers to storing your bitcoins offline (or online but in encrypted media where the encryption key is offline). Using a combination of the following methods rather than any one single method is the best way. It is also possible to use multiple methods at the same time for the same Bitcoins.
Choosing a strong password is a KEY requirement to securing your bitcoins and you should spend time online to read up on the different things that make a secure password. See our “Choosing passwords” page in our Security section for some info on this. The passwords you choose for Methods 3, 4, 5 and 6 (cold storage methods) should be more secure than the ones you use for Methods 1 and 2.
Another important requirement for the safe use and storage of your bitcoins is to be certain that the computer you are using it on does not have any keylogger software on it. Keylogger software is malware and is very harmful to your bitcoins. It can steal them. See our ‘Keyloggers and malware’ article in our Security section for details.
Here are the 6 Methods of Storage described on this website, listed in order of LEAST work to setup to MOST work to setup:
METHOD 1: Localbitcoins.com online wallet (service discontinued, update pending)
METHOD 2: Electrum wallet software on your personal computer with password protection
METHOD 3: Password protected pdf file stored on usb or other offline storage
METHOD 4: Password protected pdf file, encrypted in TrueCrypt, and uploaded to your email account
METHOD 5: Password protected pdf file, encrypted in TrueCrypt, and then buried underground in a usb drive
METHOD 6: Coded data (such as passwords/co-ordinates), via security questions, written onto a pdf file, secured with TrueCrypt, and stored in your bank safety deposit box