What kind of wiring do older speakers use?

I have some old speakers (15 years-ish) and I want to buy a sub woofer, but the wires that connect the speakers isn't like what I see in most new speakers. The wires that I see around now have those white and red heads/grips (idk what they're called) that you see with DVD players and video games and stuff, but the wires on my speakers are just two wires with about a quarter-inch of exposed wire coming out of either side, one of the wires has a red stripe and the speakers and reciever have a little port that clamps down around the wire. What is this type of wiring called, is it still used today, and if not, is there any way to maybe make a newer wire work with my old reciever?