The ability to remember information
EX: You have a very good memory, we met only once a long time ago and you remember my name.
EX: My computer is very slow, it doesn’t have a lot of memory.
EX: When the dawn (morning) comes, tonight will be a memory too (words from a famous song by Barbara Streisand).
Merriam-Webster Online Dictionary
memory (noun)1.
a) the power or process of reproducing or recalling what has been learned and retained especially through associative mechanisms
b) the store of things learned and retained from an organism's activity or experience as evidenced by modification of structure or behavior or by recall and recognition
2.
a) commemorative remembrance - erected a statue in memory of the hero
b) the fact or condition of being remembered - days of recent memory
3.
a) a particular act of recall or recollection
b) an image or impression of one that is remembered - fond memories of her youth
c) the time within which past events can be or are remembered
4.
a) a device (as a chip) or a component of a device in which information especially for a computer can be inserted and stored and from which it may be extracted when wanted , especially - ram
b) capacity for storing information - 512 megabytes of memory
5.
a capacity for showing effects as the result of past treatment or for returning to a former condition - used especially of a material (as metal or plastic)