Most data accessed on the Internet today contain text and images. Hence, simple adaptations of the conventional memory caching algorithms are adequate for managing disk-based Internet caches. However, as streaming of audio and video data gain popularity, conventional web caching algorithms are proving to be inadequate. To address this limitation, we have developed a Resource-based Caching (RBC) algorithm. The RBC algorithm achieves higher hit ratios as compared to several existing algorithms for various workloads and cache configurations. Additionally, we have developed a hierarchical web caching architecture that significantly reduces the latency incurred for information access over the Internet. This research extends existing web caching algorithms and architectures along several dimensions.