A composite video input or output uses a single standard RCA-style jack to pass video signals. This type of connection combines chrominance (color) and luminance (brightness) information, sending it along a single cable.
S-Video allows the chrominance (color) and luminance (brightness) information to be transmitted separately allowing for a better picture.
A component (sometimes seen as YUV or YPbPr or YCbCr) input works by dividing the chrominance (color) signal into color differenced blue (Cb) and red (Cr) components and a separate luminance (Y) component similar to S-Video. It uses three cables (often colored red, green, and blue) as the connector. It has the best picture of the three.
(Side note: There is a difference between YUV and YPbPr and YCbCr, but oftentimes they are incorrectly used interchangeably.)