Memory is the ability to retain information over time through three processes: encoding, storing, and retrieving. There are three stages of memory - sensory memory, short-term memory, and long-term memory. Sensory memory holds environmental information for a brief period of time, short-term memory stores information for 2-30 seconds, and long-term memory stores unlimited information over long periods of time. How information is encoded, whether through shallow or deep processing, determines how well it can be remembered later.