This review explores the multifaceted nature of age-related decline in source memory and associative memory. The review highlights the potential effects of age-related decline in these types of memory. By integrating insights from behavioral, cognitive, and neuroscientific research, it examines how encoding, retrieval, and neural mechanisms influence this decline. Understanding these processes is critical to alleviate memory decline in older adults. Directing attention to source information during encoding, employing unitization techniques to strengthen memory associations, and utilizing metacognitive strategies to focus on relevant details show promise in enhancing memory retrieval for older adults. However, the review acknowledges limitations in processing resources and executive function, necessitating a nuanced approach to the complexities of age-related decline. In conclusion, this review underscores the importance of understanding the complexities of age-related source and associative memory decline and the potential benefits of specific cognitive strategies. It emphasizes the need for continued research on age-related memory function to improve the quality of life for aging populations.