Your subconscious doesn't remember everything. I can remember my biology teacher saying that every piece of information is stored. It took alot out of me to not scream "bullshit" in his face Ha . I'm pretty sure it remembers alot of important events, but unfortunately, your mind makes up half of it. Basically, If I'm reminiscing about going to a carnival as a kid with someone, they could talk about how fun the giant spinning wheel was. There may not have been a big spinning wheel there, but you're mind is able to make a vague memory of it happening. So the basics of the memory are there, its just often times, the details aren't actually details.

I can remember reading a study that claimed this stuff BTW ^