After more than 30 years of research, hard disk drives using perpendicular recording are finally commercially available. This review is a follow-up of a review written in 1999 and addresses the basic physics of perpendicular recording with special emphasis on the read and the write process and the magnetic aspects of the recording media. The paper also surveys various technical difficulties which prevented an earlier implementation of perpendicular recording. The paper closes with a short overview of alternative technologies that allow even higher storage densities.