I think we all have to swallow our pride and admit we don't and can't know everything - it is humbling when you can't answer an interview question - but everything really is just 'a google away.' If you take every moment of ignorance as an opportunity to do a quick google to at least understand the basic premise, you'll be constantly adding to your knowledge arsenal.

With that being said, I do believe it's necessary (if only for the sake of looking smart and confident in interviews and to your peers) to memorize certain items - the ACID acronym and concept, for example. Even if you only have a surface understanding of a concept, you look much smarter if you can rattle off that basic concept with alacrity.

With THAT being said, you also have to have a thick skin, and be confident in your intelligence and abilities. Don't let anyone make you feel dumb just because you can't rattle off certain buzzwords. Confidence is much more important than performance in most cases, I think.