In the last few years, resistive random access memory (RRAM) has been proposed as one of the most promising candidates to overcome the current Flash technology in the market of non-volatile memories. These devices have the ability to change their resistance state in a reversible and controlled way applying an external voltage. In this way, the resulting high- and low-resistance states allow the electrical representation of the binary states “0” and “1” without storing charge. Many physical models have been developed with the aim of understanding the mechanisms that control the resistive switching. In this work, we have compiled the main theories accepted as well as their corresponding models for the conduction characteristics. In addition, simulation tools play a very important role in the task of checking these theories and understanding these mechanisms. For this reason, the simulation tool called SIM 2RRAM has been presented. This simulator is capable of replicating the global behavior of RRAM cell based on HfO x.