A disordered medium composed of randomly arranged metal and insulator, both with finite conductance, is considered. The distribution of voltage drops in such two-component random system has been calculated both analytically and numerically. It is shown that the distribution N(y) of the logarithm of voltage drops, yϭϪln(2), is the sum of several members, N ck (y) and N ik (y), kϭ0,1,2,. .. . Members N ck (y) describe the voltage distribution in the metallic phase. Members N ik (y) describe the voltage distribution in the insulating component. The subsequent members are shifted subsequently on the y axis by an amount of 2k ln(hL 1/()), where is the crossover exponent and is the percolation correlation length exponent. The zero-order member of the N ck family is governed by the multifractal spectrum f (␣), where ␣ϭy/lnL, found originally for the random resistor network. The zero-order member of the N ik family is governed by the multifractal spectrum (␣) found originally for the random resistor superconductor network. The next members are built from two components. The first one is the scaled repetition of N c0 for the N ck family or N i0 for the N ik family. The other one is the distribution of voltage drops in such percolation objects like dangling ends, isolated clusters for the N ck family or clusters perimeter for the N ik family.