Lyric discussion by yingsane 

Cover art for Memorabilia lyrics by Nine Inch Nails

I think this song is about a relationship he had with a woman, that ended, and he's trying to remember it. Maybe drugs or addiction had a lot to do with him not remembering their relationship, so all he has to remind himself of her are the photographs he took.

'well times i passed through so many faces so many places i have got to have a memory i have never been there i have never had you'

  • He seeing flashbacks of past events that occured during his addiction, and don't believe they actually occured, and he rejects those thoughts.

'keychains and snowstorms the taste of your sweat the look in your eye i have been inside you i know what it feels like i collect i reject'

At this point he is provided with memorabilia that reminds him of how it felt. Maybe he's meeting the woman that he was once with for the first time since then and her look, the taste of her sweat, they bring back those feelings again. He rejects them so that he won't go back to that point, but he can't let them go.