Memory is the process of encoding, storing, and retrieving information and consists of sensory memory, short-term memory, working memory, and long-term memory. Long-term memory is further classified into declarative (semantic and episodic) and procedural memory, with retrieval influenced by various effects such as primacy and recency, as well as factors leading to forgetting. Memory dysfunctions can include conditions like Alzheimer's and amnesia, while techniques for improving memory include better processing methods.