It was required memorization, even in many public schools, years ago. Let's read Psalm 1 again and see if it jogs your memory.
"Blessed is the man that walketh not in the counsel of the ungodly, nor standeth in the way of sinners, nor sitteth in the seat of the scornful. But his delight is in the law of the Lord; and in his law doth he meditate day and night. And he shall be like a tree planted by the rivers of water, that bringeth forth his fruit in his season; his leaf also shall not wither; and whatsoever he doeth shall prosper. The ungodly are not so: but are like the chaff which the wind driveth away. Therefore the ungodly shall not stand in the judgment, nor sinners in the congregation of the righteous. For the Lord knoweth the way of the righteous: but the way of the ungodly shall perish."
The word, blessed, serves here as a pronouncement upon a man- but a certain kind of man. The psalm is teaching that the blessed or happy man is the righteous man. (right living) The happy man avoids evil influences, deeds, and attitudes. He delights in God's Word, therefore God causes him to prosper.
Let's consider that word, prosper. There are some who grab verses of scripture out of context in order to promise a monetary prosperity. What the scripture is promising here does not mean immunity from failure or difficulties. Nor is it a guarantee of health, wealth, and happiness. What Scripture means
by prosperity is this: when Godís wisdom is applied to our lives the fruit it bears in us will be good and receive God's approval. As a tree soaks up water and bears luscious fruit, we also are to soak up God's Word, producing actions and attitudes that honor God. In reality true prosperity is found by knowing the true value of God's Word!
The righteous man is likened unto some physical properties, such as a tree, rivers of water, fruit, and unfading leaves. The scorning unrighteous man is likened to one thing- CHAFF. This is the product that must be removed in order to get to the valuable grain inside. This is removed through a process called threshing. After the plants were cut, they were crushed, then the pieces were thrown into the air. Chaff is very light and is carried away by even the slightest wind, while the good grain falls back to the earth. Chaff is a symbol God uses of a faithless life that drifts along without direction.
For the Lord knoweth the way of the righteous and it will surely be blessed but he also knows the way of the ungodly scorner and it, like the chaff, has a destiny which will perish.
This Psalm is a wonderful introduction to the book of Psalms for it sets before the reader the three main characters that are prominent in the psalms, the righteous, the ungodly, and God.
Reference: Psalm 1, (KJV) The Holy Bible.