One time pad: why is it useless in practice?
Actually, the problem with OTP isn't the storage of the pad (although secure erasure of the parts of the pad you used is trickier than it looks), and it isn't the pad generation (although, again, that's trickier than it looks), but the secure transport.

After all, it's not enough for you (Alice) to have the secure pad, you also have to give a copy to the guy (Bob) you're sending the message to, and you need to send it in a way that's secure.

That's the real reason OTP's aren't used that often; OTP's would require meeting with the other side directly, or alternatively using a trusted courier; we rarely want to put up with the expense with either, especially since there are cheaper alternatives available.