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The classic IP Address usually looks something like this: 123.123.123.123.
That is an IPv4 (version 4) address. Each triple is a number between 0 and 255. If your IP is assigned by a router, it usually starts with 192.168.xxx.xxx
This is used by most devices today, but limits the number of possible combinations to 4,294,967,296.
As more and more devices are accessing the internet, this is simply not enough. A new standard has been established called IPv6 (version 6), and will eventually replace IPv4.
IPv6 allows for 2^128 addresses, or roughly 340,282,366,920,938,463,463,374,607,431,768,211,456 combinations. A typical IPv6 address can be written like this:
2001:db8:85a3::8a2e:370:7334
