The theoretical and experimental results concerning the thermodynamical and low-frequency transport properties of hybrid structures, consisting of spatially-separated conventional low-temperature superconductor (S) and ferromagnet (F), is reviewed. Since the superconducting and ferromagnetic parts are assumed to be electrically insulated, no proximity effect is present and thus the interaction between both subsystems is through their respective magnetic stray fields. Depending on the temperature range and the value of the external field H_{ext}, different behavior of such S/F hybrids is anticipated. Rather close to the superconducting phase transition line, when the superconducting state is only weakly developed, the magnetization of the ferromagnet is solely determined by the magnetic history of the system and it is not influenced by the field generated by the supercurrents. In contrast to that, the nonuniform magnetic field pattern, induced by the ferromagnet, strongly affect the nucleation of superconductivity leading to an exotic dependence of the critical temperature T_{c} on H_{ext}. Deeper in the superconducting state the effect of the screening currents cannot be neglected anymore. In this region of the phase diagram various aspects of the interaction between vortices and magnetic inhomogeneities are discussed. In the last section we briefly summarize the physics of S/F hybrids when the magnetization of the ferromagnet is no longer fixed but can change under the influence of the superconducting currents. As a consequence, the superconductor and ferromagnet become truly coupled and the equilibrium configuration of this soft S/F hybrids requires rearrangements of both, superconducting and ferromagnetic characteristics, as compared with hard S/F structures.
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