Memory is the ability to store, retain, and recall information and experiences over time. It involves a complex process of encoding, storing, and retrieving information. There are three main types of memory: immediate/sensory memory which lasts seconds, short-term memory which lasts 20-30 seconds, and long-term memory which can last a lifetime. Factors like age, health, stress, sleep, and practice affect memory. Theories of memory include trace decay theory which states memories weaken over time, interference theory where new learning can disrupt old memories, and repression theory where unpleasant memories are unconsciously blocked. Nurses can benefit from understanding memory to help patients and improve their own skills.