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OK, so you've filled your computer's 60GB hard drive with MP3s and video clips and you still need more space -- a lot more space. Removeable media won't work because you want it all accessible at any time. You need to upgrade the hard drive. If you're thinking about an internal drive, you hopefully have an extra bay on your PC. If not, you're going to have to replace your current hard drive, which is going to involve backing up all your data and then transfering it to the new machine.
The good part: Hard drives are bigger in terms of capacity, smaller in size, and less expensive than ever. Pay as low as about $60 up to more than $300 for a new internal drive (500GB), so the prices are reasonable for what you're getting.
The hard part: Installing an internal hard drive can be pretty complicated. If you're not used to working with the BIOS and motherboard, DON'T TRY TO DO IT. Pay a professional.