Fluctuation in the demand for electrical power and the intermittent nature of the supply of energy from renewable sources like solar and wind have made the need for energy storage a dire necessity. Current storage technologies like batteries and supercapacitors fall short either in terms of power output or in their ability to store sufficient energy. Pseudocapacitors combine features of both and offer an alternative to stabilize the power supply. They possess high rates of charge and discharge and are capable of storing much more energy in comparison to a supercapacitor. In the quest for solutions that are economical and feasible, we have investigated Prussian Blue in aqueous electrolytes for its use as a pseudocapacitor. Two different active materials based on Prussian Blue were prepared; one that has just Prussian Blue and the other that contains a mixture of Prussian Blue and carbon nanotubes (CNTs). Four electrolytes differing in the valence of the cation were employed for the study. Cyclic voltammetry and galvanostatic charge-discharge were used to characterize the electrodes. Our experiments have shown specific capacitances of Prussian Blue electrodes in the range of 140-720 F/g and that of Prussian Blue-CNT electrodes in the range of ~52 F/g. The remarkable capacity of charge storage in Prussian Blue electrodes is attributed to its electrochemical activity ensuring surface redox and its tunnel-like structure allowing ease of entry and exit for ions like Potassium. Simple methods of synthesis have yielded specific capacitances of the order of hundreds of Farads per gram showing that Prussian Blue has promise as an electrode material for applications needing high rates of charge-discharge.