Education is the fundamental process used to develop and maintain the professional skills of physicians. Medical students, residents, and fellows are expected to learn considerable amounts of information as they progress toward board certification. Established practitioners must continue to learn in an effort to remain up-to-date in their clinical realm. Those responsible for educating these populations endeavor to teach in a manner that is effective, efficient, and durable. The study of learning and performance is a subdivision of the field of cognitive science that focuses on how people interpret and process information and how they eventually develop mastery. A deeper understanding of how individuals learn can empower both educators and learners to be more effective in their endeavors. In this article, we review a number of concepts found in the literature on learning and performance. We address both the theoretical principles and the practical applications of each concept. Cognitive load theory, constructivism, and analogical transfer are concepts particularly beneficial to educators. An understanding of goal orientation, metacognition, retrieval, spaced learning, and deliberate practice will primarily benefit the learner. When these concepts are understood and incorporated into education and study, the effectiveness of learning is significantly improved.