What is a cold storage Crypto Wallet?

Could you elaborate on what a cold storage crypto wallet is and its significance in the cryptocurrency and finance landscape? As a professional practitioner, I'm interested in understanding how it differs from traditional hot wallets and what security measures it offers. Specifically, how does it protect users' digital assets from potential threats like hacking and theft? I'd also like to know about its accessibility and usability, as well as any limitations it may have.