Eggs, I need your help please. Ext. hard drive questions

Shenandoah Valley, VA

I'm sorta maybe thinking about getting an external hard drive because the files I need to save are getting totally out of control. Plus I think it would be a good backup option.

I have some questions though because I know exactly zero about them.

First, can you back up more than one computer on one external hard drive? How do you know what size to get? Is 500 gb a good size? What else should I look for?

If it has a USB 2.0 connector, would that be compatible with the older, I mean like seven years old older, computer I would like to backup along with my new one? Does it back up everything or just files like documents and photos?

Thanks for any help you can give me.

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