Memory involves encoding, storing, and retrieving information through three systems: sensory memory, short-term memory, and long-term memory. There are various ways to improve memory, such as chunking information, rehearsal, mnemonics, and semantic networks. Memory can be declarative or nondeclarative, explicit or implicit, and is supported by different brain regions like the hippocampus and amygdala. Factors like interference, failure of encoding, and context dependent cues can lead to forgetting over time.