Final answer:
Memory consolidation is the hippocampal process where memories are transitioned into more permanent long-term storage, involving the encoding of explicit memories, although implicit memories are managed by the cerebellum.
Step-by-step explanation:
Memory consolidation is a hippocampal process in which memories are made more permanent. This process involves transferring new learning into long-term memory, ensuring that experiences are stored for future retrieval. Various studies on the hippocampus, such as lesion experiments on rats, have indicated that this brain structure is crucial for normal recognition memory and spatial memory.
The hippocampus is also responsible for projecting information to cortical regions that add meaning to memories and interconnect them with other memories. Thus, memory consolidation by the hippocampus is key to our ability to remember and recall events. Yet, it should be noted that while the hippocampus is essential for processing explicit memories, implicit memories like procedural memory or classical conditioning are handled by the cerebellum.