Where to park in Prague
Prague is divided to 10 districts, where (following transport rules) you can park
on streets with no charge, but not Prague 1. The district of Prague 1 encloses the very centre of Prague and the parking here is far restricted by paying the parking fee.
So you can choose:
TO PARK ON THE STREETS - you can easily park anywhere the transport rules allow it but in case of Prague 1 you have to pay the parking charge.
Warning: considering plenty of cars are stolen or robbed every year, please do not underestimate this hazard and never leave any valuables or expensive looking items in your car - the risk of robbery will then be considerably lower!
The hostel is located very near the border enclosing Prague 1, so you can easily avoid paying any parking fee.
TO TAKE ADVANTAGE OF GUARDED PARKING PLACES - this is definitely the best selection

if the main viewpoint is security of your vehicle. The two parking places of this sort
are quite near either end of Charles Bridge (it also means near the hostel), so you shouldn't have a problem finding them.
The first one is just on Malostrenske namesti (square) and the second one -
the underground one - has its entrance between the river Vltava and the building

of the Rudolfinum (the concert hall and the gallery - near the metro-station Staromestska).
The text above together with the map and more useful info is also also
available at summary leaflet