Hebbian plasticity has long dominated neurobiological models of memory formation. Yet, plasticity rules operating on one-shot episodic memory timescales rarely depend on both pre- and postsynaptic spiking, challenging Hebbian theory in this crucial regime. Here, we present an episodic memory model governed by a simpler rule depending only on presynaptic activity. We show that this rule, capitalizing on high-dimensional neural activity with restricted transitions, naturally stores episodes as paths through complex state spaces like those underlying a world model. The resulting memory traces, which we term path vectors, are highly expressive and decodable with an odor-tracking algorithm. We show that path vectors are robust alternatives to Hebbian traces, support one-shot sequential and associative recall, along with policy learning, and shed light on specific hippocampal plasticity rules. Thus, non-Hebbian plasticity is sufficient for flexible memory and learning and well-suited to encode episodes and policies as paths through a world model.