Yes, you should memorize the equations. Some equations you will not need to memorize, others are very important. Make sure you know the equations dealing with:
Distance, Time, Velocity,
Force, Work, Energy, Power
Currents (Resistance, Capacitance, etc)
Lens Equations
Magnetism to some extent
Volumes, Densities, Buoyant Force, etc.
Force due to Electric Fields
Momentum
and maybe a handful of others that currently slip my mind. It's really not that difficult to memorize them once you get started. Especially since a majority just involve manipulations of a standard equation.
Good luck.
