Hi! It definitely depends on the bacteria. If you are working with the easy ones such as Enterobacteriaceae, glycerol with trypticase soy broth and preservation at -20ºC or -80ºC is useful. However, fastidious bacteria such as Pasteurella, Haemophilus, Campylobacter, etc. may not survive in those conditions and it is better to use skim milk medium or beads, at -80ºC.
For plate cultures, resuspend the bacteria in 15% glycerol by vortexing then let sit at RT for 5 min then place in -80C. For liquid cultures, add DMSO to 5%, mix then place at -80C. Most bacterial species will remain viable for at least 20 years.
If it is just short term and you do not have a -80 freezer, you can store at -20 for a year or so in a storage media (no defrost cycle). Flash freezing with liquid nitrogen first always helps.