I am speaking in general, how does a IC actually store memory even when power/current has been taken away ? What is the structure of this memory ? Any additional information would be greatly appreciated.
The boundaries beetween eeprom and flash memory are a big vague. Though Wikipedia's entry on Flash memory does help quiet a bit.
NOR flash would most likely be the type used in modern micro controllers. NAND flash is the type most typically found in mass storage devices. EEPROM operates a bit differently but has better long term wear characteristics which is why most micro controllers still have eeprom as well as flash.