I\'m slowly teaching myself cocoa for the iPhone(through the Stanford Class on iTunes U) and I\'ve just gone through the part on memory management, and I wanted to hopefully
NSStrings created with the @"String here" syntax are constant strings. These are different from normal strings. Much like normal C constant strings, they are created when your program loads and exist for its entire lifetime. The NXConstantString class, to which they belong, ignores all memory management messages. You can retain and release them all you like and it won't make any difference.
For a string created with an [[NSString alloc] initWith...]-type method, normal memory management rules apply. I'd strongly recommend reading the linked docs — they're not complicated, and after reading them, you will know pretty much everything you will ever need to know about Cocoa memory management.