Final answer:
The hippocampus is the neural center in the limbic system responsible for processing explicit memories for storage.
Step-by-step explanation:
The neural center located in the limbic system that helps process explicit memories for storage is the hippocampus. This structure is essential for the encoding of new memories and plays a vital role in memory formation. Other parts involved in memory within the brain include the amygdala, which handles emotional memories, and the cerebellum, which processes procedural memories like how to play an instrument. Together, these structures work in conjunction to govern both the creation and retention of our memories.