The most radical version of the holographic principle asserts that all information about physical processes in the world can be stored on its surface. This formulation is at odds with inflationary cosmology, which implies that physical processes in our part of the universe do not depend on the boundary conditions. Also, there are some indications that the radical version of the holographic theory in the context of cosmology may have problems with unitarity and causality. Another formulation of the holographic principle, due to Fischler and Susskind, implies that the entropy of matter inside the post-inflationary particle horizon must be smaller than the area of the horizon. Their conjecture was very successful for a wide class of open and flat universes, but it did not apply to closed universes. Bak and Rey proposed a different holographic bound on entropy which was valid for closed universes of a certain type. However, as we will show, neither proposal applies to open, flat and closed universes with matter and a small negative cosmological constant. We will argue, in agreement with Easther, Lowe, and Veneziano, that whenever the holographic constraint on the entropy inside the horizon is valid, it follows from the Bekenstein-Hawking bound on the black hole entropy. These constraints do not allow one to rule out closed universes and other universes which may experience gravitational collapse, and do not impose any constraints on inflationary cosmology.