God is our refuge and strength, an ever-present help in trouble.
Repeat, repeat, repeat! There is no secret to scripture memorization except simple repetition.
Find moments throughout your day where your hands are busy but your mind is idle, and redeem that time by filling your mind and soul with the very words of God. While you're making school lunches, while you're waiting at a red light, while you're at the doctor's office, while you're sweeping the floor, while vacuuming, while cleaning toilets! Redeem the time.
The intent of this psalm is to inspire hope amidst the storms of life. And it's inspired a few very well known hymns and worship songs as well. (A Mighty Fortress is our God and Be Still My Soul)
This verse reminds us that the source of hope, the source of our strength is God. You cannot survive the storms of life on your own. You need to rely on Him and His power. And what's awesome about it is that it is always there. God's help is ever-present. He never takes a day off or is too busy to help you. Always!
LeRoy Eims on the importance of Scripture memory: "I think two of the master strokes of the devil have been to convince people he doesn't exist, and that Scripture memory is only for children. He remembers the humility of defeat when Jesus Christ, who was tempted in all points like as we are, met him with the Word of God." (What Every Christian Should Know About Growing; p. 26-27)