I used to
memorize them as a kid by nightly recitals.. you know, "The Lord is my Shepherd.."
but I had no
knowledge of what I was memorizing. I just repeated it. What's good about learning Bible verses as a child is the Word sticks with you anyway, and years later, those very verses you took for granted finally *hit* you like a freight train. So Psalms 23, even though I can say it word for word, has a different meaning to me today than when I was 10.
What works for me is meditating on a verse.. IOW, I read it, then I think on what it means to me and what it is saying to ME, throughout the day. Going over it in my head.
There are people who can quote Scripture at the drop of hat and I think that's good because a Believer should always have Word (God) in them anyway -- whether it's a little, some or a lot. I don't think any living person will ever fathom the entire Bible, cover to cover.
HTH!
Good question, btw...