Does the human brain store memory in cells ? Where and how does it store information ?

The most current research suggests that emotional memory has pathways involving the amygdala and prefrontal cortex. But the brain (as we know it) does not store memory in a centralized location as a computer would. Modern technology (fMRI) can tell us which areas are activated for a particular mode of thought because of the change in polarity in the red blood cells as they drop off oxygen to feed the brain activation. As it stands, the general thought is that memory is stored everywhere in the cortex.
Long term memory, unlike short term memory, is dependent upon the construction of new proteins. This occurs within the cellular body, and concerns particularly transmitters, receptors, and new synapse pathways that reinforce the communicative strength between neurons. The production of new proteins devoted to synapse reinforcement is triggered after the release of certain signaling substances (such as calcium within hippocampal neurons) in the cell. In the case of hippocampal cells, this release is dependent upon the expulsion of magnesium (a binding molecule) that is expelled after significant and repetitive synaptic signaling. The temporary expulsion of magnesium frees NMDA receptors to release calcium in the cell, a signal that leads to gene transcription and the construction of reinforcing proteins.
You may want to look up "neuroplasticity" to learn more.