“When you create a SharedObject, Macromedia Flash Player creates a new directory for the application and domain, and creates an empty *.sol file that stores the SharedObject data. The default location of this file is in a subdirectory of the user”s home directory; for example: c:/Documents and Settings/username/Application Data/Macromedia/Flash Player/web_domain/lso.mxml.swf/. While usually predictable, the location of the StoredObject file can be anywhere that Flash Player has access to within its sandbox and can have any name that Flash Player assigns to it.
By default, Flash can save locally persistent SharedObjects of up to 100K in size. When you try to save a larger set of data, Flash Player displays the Local Storage dialog box, which lets the user allow or deny local storage for the domain that is requesting access.”