Yes, they store the same data, that is a valid ethereum address.
The difference is that the compiler (at compile time) when encounter an “address payable” is ready to allow (if required in the following code) that address to access primitives useful to manage ethers (namely call, transfer, send).
In that sense, after a declaration like:
address payable spender;
the compiler shall accept any
spender.send();
spender.transfer(); (1)
spender.call();
and generates the bytecode required to implement them.
On the other hand if the declaration is:
address spender;
the compiler shall generate error if any of the (1) is encountered.
After the compile time there is not difference between payable or not address. In particular they have the same size in memory and are not distinguishable.
In short it is a congruency tag, nothing more.
Understanding this, it is very simple to convert any address payable to address and viceversa using cast:
address payable spender = msg.sender;
address owner;
address payable newspender;
owner = address(spender); // this is no more payable
newspender = address( uint160(owner) ); // this is again payable
As you can see to do the opposite (not payable to payable) it is required explicitly to use uint160 as intermediate casting
Added after 0.6.0 solidity update:
now you have the possibility to directly cast any address to a payable address using the “payable” keyword:
address payable spender = msg.sender;
address owner;
address payable newspender;
owner = address(spender); // this is no more payable
newspender = payable(owner); // this is again payable