An LSTM is a recurrent network with gates that decide what to keep, forget and output, giving it much better memory over long sequences than a plain RNN.
An LSTM has three gates and a separate cell state. A GRU merges these into two gates, which trains faster and usually performs comparably.
An LSTM is a recurrent network with gates that decide what to keep, what to discard, and what to pass on. The gates are what give it usable memory across long sequences.
A plain RNN overwrites its memory at every step. An LSTM maintains a separate cell state that information can travel along largely untouched, so something from step one can still matter at step five hundred.
Think of it like this. Think of a notebook alongside your working memory. Most of what happens gets forgotten, and you deliberately write down the few things worth keeping. The gates are the decision about what gets written.