Perhaps this is a weird question, but I had a really though time when I was in college. So much so that I dropped from it.
It wasnt only in maths, but also in other subjects with formula or equations.
There was sometimes that we have to learn by memory some formulas. And I didn't know how to read them.
So, how do you do it?
P.S.: I will try to put an example as soon as possible.
This is partly a failure of the way math is taught in America. Unfortunately, we are very results-oriented (i.e. scores on multiple choice tests) with respect to education - it's easy to get better results with less effort in the short-term by pushing a memorization approach, but in the long term this is doomed to fail as ever-more formulas, dependent on formulas previous, stack up as one goes from algebra to precalculus to calculus.
If you have a good feel for the underlying concepts, you can often re-derive what you need when you need it. A great example: as a tutor I strongly discourage my algebra / pre-calculus students from memorizing the distance formula:
Generally, at some point previous, they will have learned this famous fact:
If you already know this, then the distance formula follows by considering the right triangle:
Another example is the quadratic formula:
In most courses where this is taught, one also learns about the method of completing the square. Alas, what is often not mentioned is that you can get the mess of a formula above by simply completing the square on a quadratic equation with general coefficients (see here).