This is the same as a floppy disk. Photos taken by modern digital cameras will not fit on this, nor will an average length MP3, as both are around 3MB. 1.44MB is sufficient for about one book to be stored in text format.
Memory size of 1.44 MB is equivalent to 1,474,560 bytes of data. Which means that you can save 737,280 up to 1,474,560 letters or character in it. One letter or character usually is equivalent to 1 byte.