[wizzwizz4]

Is it important that you understand cache eviction algorithms well enough that you can look at a description of an algorithm and see how it applies to your system? Yes. And if memorising is the way you gain that ability, then memorising is what you need to do.

And what is it important for? Why, for making sure that your software makes efficient use of system resources. This is essential if you're writing application software that's used by other people – but if you're writing server-side code, or some one-a-month business-logic data-processing scripts, or code that's only ever going to run on five specific machines, it's not that big of a deal. I haven't needed this skill yet.