Hi Shao,
What do you need to store, more specifically? Since this is a PostGIS related thread, is it about raster data, etc.?
As a personal experience, I used the hexadecimal format: the idea is to convert the binary blob into hex digits representation, where one digit represents an hex nibble, and each byte of the binary blob is converted into two digits, with the most significant nibble first. Then the hex digits can be inserted as you would insert a string, preceded with the char \x.
Depending on what you use at the application side, there are different ways of encoding a binary blob into hex format. If you want to try something "manually" from a file using psql, try with utilities like hexdump, keeping in mind that the binary content in the file is encoded using the platform's endianness, i.e. with the most significant nibble put for first or for last (check this from your OS).
Hope it helped,
Giuseppe.