Techniques provide for managing storage devices. Such techniques involve: combining storage devices in a redundant array of independent disks into a group of storage devices in an order of physical capacities of the storage devices; determining a first number of sets of storage devices based on a number of storage devices in the group and a threshold number of storage devices to be divided into each of the sets; and dividing, based on a configuration of the redundant array of independent disks, the group of storage devices into the first number of sets of storage devices, to optimize an effective capacity of the redundant array of independent disks.