The lack of memory means the algorithm used to generate each number is completely independent of each reel on the slot machine. It is possible for a player to hit a jackpot on a number of occasions in specific plays, but this is a purely random part of the gameplay developed through the use of algorithms.
CHANCE ONLY determines the outcome of any game, there is no play method or pattern that effects whether a game is winning or losing. Also, because outcomes are CHANCE ONLY, machines do not adjust to a string of winning or losing games causing them to be "due" for a win/loss.