In recent years, the emergence of memory devices, especially resistive random-access memories (RRAM), has been a front-runner in many technological applications. This is due to its high-speed operation, structural simplicity, low power consumption, scalability potential, and high-density memory storage features. To develop an efficient and miniaturized memory device based on the resistive switching effect, it is necessary to study the range of materials and their fabrication techniques. In this review article, we have summarized the diverse organic and inorganic materials and their resistive switching performance. Furthermore, we reviewed some potential materials for next-generation resistive switching devices. In the resistive switching device fabrication front, numerous physical, chemical, and biological-based synthesis techniques were briefly reviewed. The influence of preparative parameters was also discussed. Finally, the current status and future directions of this field are discussed. The present review article provides important details of the resistive switching effect, promising organic and inorganic materials, and various fabrication techniques to improve the device's performance for memory applications.