Digital media is the now primary way to consume information in our society. You look at news publications, movies, television, games, and social interaction, and there is a definite trend towards it being solely on a digital platform. In our society the role of physical media, such as newspapers, books, board games, and now art (to a degree) are presented in a digital form, either displayed as such or presented in a way where you can interact with them. The best definitions/examples I can give to "digital media" are video games, Netflix original shows, and news sites like Politico. Using them as a base, "digital media" is a way to get information and entertainment presented directly to you, in the instant you want them.
Digital Media requires technology, and as to what I would consider my favorite piece of digital technology, it's tough. I like my phone, I like my computer, and I like my gaming set ups. If I had to pick only one to keep though, I would go with my computer. It simply gives me the best mix of everything. It allows to me to talk to people, I can consume art and entertainment through it, and I get news from it. Computers are the best all round digital technologies, because they can do just about everything.
Living in our digital society isn't all cookies, rainbows, and kittens (despite what the internet would have you think; it really does love cats). My greatest frustration with living in a digital world is that you can't get away from it now. I used to go on complete disconnects during the summer, cutting myself out of the Social Networking... well, "nets." Now, it's impossible to get away from it all. You can't have a life without being a part of the digital media, unless you're willing to have very sporadic contact with other people. My mother is the only person in the family aside from her own mother that doesn't use Facebook, but even she needs me and my siblings to check on people for her. She's indirectly connected.