Steel
Steel drivers are usually cheaper but weigh more than titanium drivers. They look traditional and have a smaller head to keep the weight down and decrease chance of the metal deforming since it is not a very strong material. Steel drivers are however still very durable.
Titanium
Titanium drivers were one of the biggest breakthrough in golf history. Since the material is relatively light, the heads can be made bigger to increase the sweet spot. Titanium drivers are also known to be 'forgiving' since the ability to hit decent shots from an off center connection can help golfers save several shots a round. Titanium is very durable and will resist damage from impact or corrosion. The only negative point in titanium drivers is that it is the most expensive material in driver technology.
Composite
Composite drivers combines various materials with usually titanium. Composite driver can even be lighter than titanium counterparts since composite part of the driver is very lightweight as it uses materials such as carbon.