Questions about external hdd

I am looking to buy an external HDD and first would like to know what does the form factor numbers mean? and what do the numbers mean?I am looking to backup my 5gb for my laptop.I thinking about buying either a650gb or a 1tb external hdd to allow for the buffer or extra space.Also are they formatable to partition?Is it best to get a portable or larger?7200 or 5200 which my laptop is 5200,does it make a difference in the different speeds in data transfer? are they password protected?thanks in advance.
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