Dr. Courtney said:
At some point, many formulas can be derived from other more fundamental formulas, definitions, and principles. But usually, students don't have the time or mastery to do that yet when the formulas are needed (as on an exam). For example, all the kinematic equations follow from the definitions of velocity and acceleration and the assumption of constant acceleration. But the quickest way to derive the formulas requires Calculus, and most students find it easier to memorize them than to re-derive them under time pressure.
There is also an important difference between more fundamental formulas that apply in a wide range of circumstances and more specific formulas that only apply in a narrow range of circumstances. For example, the kinematic equations apply whenever the acceleration is constant. They are often used as a starting point in solving projectile motion and other kinematic problems. In contrast, the range formula is an intermediate result that applies to give the range of a projectile whose final height is the same as the starting height. It is more of the answer to a problem than the starting point. There is much less need to memorize less fundamental formulas like the range formula.
I often see students trying to memorize formulas for solutions to Atwood machines in various configurations. This is silly, because the odds of remembering the right formula for a wide variety of configurations is slim. The needed formula is Newton's second law and possibly the kinematic equations.