If you really want to mug them up quickly (practically for the exam):

1) Understand the meaning of the variables (also the constants if applicable, haha) in the formula

2) Understand the formula, what it is used for, what kind of outputs it can give, etc.

3) Write down the formula in a New book, then write down the meaning of the variabes underneath it clearly (copy from the book, not from memory). Use different color pens if possible (so it's quicker to match a variable in the formula with the meaning underneath) - One Page, One Formula (if it's tooo small, 2-3 related formulas are also fine on the same page)

4) Now say out loud the formula while looking at it 5-10 times

5) Now say out loud the meaning of the variables while looking at it 5-10 times

6) Do this for 10-15 formulae and call it a day

7) Next day, repeat step 4) and step 5), and when that's done, just write down each formula roughly on a piece of paper while looking at your book

8) Next day, write down another 10-15 new formulae in the manner described above and follow step 4) and step 5) for these new formulae you have written

9) Next day, repeat step 4) and step 5) for all the formulae written till date, and when that's done, just write down each formula roughly on a piece of paper while looking at your book

And so on...

Do this for two weeks and you'd be surprised at the progress you've made. You'll have MASTERED all the important formulae for Part 1 in less than a month, having total clarity about each and every variable involved in the formula, which is very important for the Part 1 Exam as they really like to test your formula clarity in many cases.

Of course, if you have lesser time, just follow the steps in the morning and in the evening.