Localization of sound is primarily based on the time difference between the ears. Localization is also pretty precise, to within a few degrees under good conditions.
35 karma · joined June 21, 2016
What you describe is long-term memory (everything beyond a few seconds is considered long-term).
Edit: Too slow. Some more justification: Very broadly, one hypothesis is that working/short term memory is stored in the currently present activity patterns of neurons, which fade/decorelate after a few secodns. Anything longer is thought to be stored in the weights of the synapses between neurons (there are alternative theories but I like this one).