Microsoft has launched SkyDrive long back. The storage space was limited, but now you can store 25GB of contents online. Apart from storage, you can also share the contents with your friends.
Skydrive has its own restrictions, for security reasons, you cannot upload a file that is more than 49MB in size, If you have a 100MB file, then you have to break it up into the chunks of < 49MB then start uploading.
Coming to the plus points, Microsoft released a plug-in for the browser, if you install that plugin , upload will be much simpler. You can just drag-drop the files into the skydrive folders in the browser!
So, if you do not have a windows live account, create one now and start using SkyDrive!