There is a pill called propranolol that can erase memory when taken or at least partially erase some of your memory when you take the pill.
Sometime back in the year 2009 a group of people took the pill propranolol and lost some of their memory of bad things after 24 hours.
It would be good to lose bad memories but I wouldn't want to erase all my memories as some memories are good to hold onto.
When we die though all our memories will be erased and we will no longer remember anything or be able to see anyone anymore.
So everyone will have their memories permanently erased when they die.