At present the majority of the focus is on enhancing the
  entorhinal area. It's believed that _this_ is the place where
  memory gets encoded into long term memory. I personally think
  there's a strong connection between memory encoding and
  retrieval and sinus troubles.

  Anyway, it's like boosting gain in an amplifier for a stronger
  signal, or adding a pre-amp to your microphone so you can put it
  through a line-input.

  They're not creating new memories/false memories/etc. Of course
  the EXPERIENCE of memory boost/retrieval is another story - how
  will it affect other neural systems and the subjective
  experience of it all; but I'm a huge fan of this. Our brains
  will be able to store/retrieve more, lessening the need for
  computers to store information.

  This is really fucking cool to me, because I didn't know we
  reached that point yet. I'm VERY excited.

  [1]http://www.darpa.mil/news-events/2014-07-09

  "Unique to the UCLA team*s approach is a focus on the portion of
  the brain known as the entorhinal area. UCLA researchers
  previously demonstrated that human memory could be facilitated
  by stimulating that region, which is known to be involved in
  learning and memory. Considered the entrance to the
  hippocampus*which helps form and store memories*the entorhinal
  area plays a crucial role in transforming daily experience into
  lasting memories. Data collected during the first year of the
  project from patients already implanted with brain electrodes as
  part of their treatment for epilepsy will be used to develop a
  computational model of the hippocampal-entorhinal system that
  can then be used to test memory restoration in patients. "

References

  Visible links
  1. http://www.darpa.mil/news-events/2014-07-09