In all of my math classes, and in my experience, I was taught that "memorizing" math formulas and procedures is not the best way. Eventually it can become hard to memorize it all when the steps become very complicated. "Understanding" math -- the WHY instead of the HOW -- is how you develop true math skill. It's about developing insight.
This link explains what I mean:
Study Hacks » Blog Archive » How to Ace Calculus: The Art of Doing Well in Technical Courses
Are you taking college math courses? Teaching yourself?