Some material must be memorized, but not in a drill format. Poetry, the Bill of Rights, the Presidents of the United States, and the books of the Bible are examples. The best study tool for such material is simple repetition. The teacher can say each phrase and have the students echo her words until they can recite the material by themselves. Homeschool Tools contains dozens of resources for this kind of memory work.
Older students can use memorization tricks for lists.
With a little creativity you can take the first letter of each word and make a word or a sentence. Younger children also enjoy singing the material to be memorized. A good example is the geography songs in Homeschool Tools. Students who use the full range of study tools will have an advantage when they tackle a new subject. They will know how to make the best use of their study time.