“Memories, like the corners of my mind
Misty watercolor memories
Of the way we were
Scattered pictures of the smiles we left behind
Smiles we gave to one another
For the way we were”
— Gladys Knight & The Pips, The Way we Were
Put another way, memories are the patterns in our mind, put down by our response to our experiences. They are the structure of our individual reality. This is why so many live in the past. Or the dreams of the future, extrapolating those memories.
Note also how they are internalized. We remember what we consider a part of our reality. So inner directed people may not remeber names (external) but remember intricate details of minutiae (internal).
This is why living in the moment is so different. It is not living in the structure of memory but living in the more expansive present moment. Outside of mind. Outside of the past. Outside inside.