Heavy alcohol use will destroy your memory though. See: http://en.wikipedia.org/wiki/Wernicke%E2%80%93Korsakoff_syndrome
It's not the alcohol abuse that causes Korsakoff; it's the thiamine deficiency that results from using liquor as your main source of nourishment. > Wernicke–Korsakoff syndrome in the United States is usually found in malnourished chronic alcoholics, though it is also found in patients who undergo prolonged intravenous (IV) therapy without vitamin B1 supplementation, gastric stapling, intensive care unit (ICU) stays or hunger strikes.
As I recall (though my memory isn't what it once was..) it refers to use by alcoholics and not the casual use of alcohol. I'm pretty sure that there are a number of positive effects from moderate alcohol use and I'd guess that such use doesn't put ones memory in jeopardy. I could be wrong though and perhaps I'm just attempting to reassure myself.