What is the meaning of memorizing the texts of Hadith and what is its benefit?

Memorizing Hadith means committing them to memory. Their texts (mutūn) are the sayings, actions, and tacit approvals of the Prophet, peace and blessings be upon him, collected in the compilations of the Sunnah. In the terminology of the Hadith scholars, Al-Hāfiz (the Preserver) is one who has memorized one hundred thousand Hadith, both text and chain of narration, along with knowing the biographies of their narrators. The benefit of memorizing Hadith is immense and an honor for a Muslim. Allah raises those who believe and those who are given knowledge, by degrees. The Prophet, peace and blessings be upon him, supplicated for the memorizer of Hadith, saying: "May Allah brighten the face of a person who hears a Hadith from us, memorizes it, and conveys it to others. For many a bearer of fiqh (understanding/knowledge) conveys it to one who is more knowledgeable than him, and many a bearer of fiqh is not himself a faqīh (jurist)."