Exchange spring magnet
The magnetostatic energy is the energy stored in the field generated by a material's magnetic moments. The magnet's field reaches its maximum intensity if all the magnetic moments orient in one direction; this is what occurs in a hard magnet. In order to prevent building up the magnetic field, sometimes magnetic moments tend to form loops. That way, the energy stored in the magnetic field can be constrained; this is what occurs in a soft magnet. What determines whether a magnet is hard or soft is the dominant term of its magnetic energy. For hard magnets, the anisotropy constant is relatively large, making the magnetic moments align with easy axis. The opposite case applies to soft magnets, in which the magnetostatic energy is dominant.
Magnet keeper
A magnet can be considered as the sum of many little magnetic domains, which may only be a few microns or smaller in size. Each domain carries its own small magnetic field, which can point in any direction. When all the domains are pointing in the same direction, the fields add up, yielding a strong magnet. When these all point in random directions, they cancel each other, and the net magnetic field is zero.