Translation:It is important that I remember the title.
Yes, you are right.
io ricordi = I remember in the subjunctive mood.
tu ricordi = you remember (both indicative mood and subjunctive mood)
lui ricordi = he remember in the subjunctive mood
In the subjunctive mood the first, second and third person singular are equal and so in Italian they use in the subjunctive mood often the personal pronoun to avoid misunderstandings.
ricordare qualcosa = yes, it needs the direct object pronoun (i.e. lo ricordo). (if a verb needs a preposition to collect it with an object it needs an indirect object pronoun; if its directly followed by the object it needs a direct object pronoun.)
ricordare qualosa/qualcuno (direct object pronoun)
pensare a qualcuno (indirect object pronoun)
spiegare qualcosa (direct object pronoun) but also: spiegare qualcosa a qualcuno (both direct and indirect object pronoun)
lo ricordo (indicative mood) I remember it/him.
io lo ricordi (subjunctive mood) I remember it/him.
The subjunctive mood is used to refer to hypothetical and counterfactual events. Things that may happen or may have happened, and things that the speaker believes will not happen or have not happened.
In this case, the speaker thinks it is important to remember the title. Perhaps she failed to remember it, and she is pointing out what a blunder that was. Her having remembered it is the counterfactual event. Or maybe she wants to get the title right in her speech tomorrow, but she doesn't know if she will. It is still a hypothetical event. Hence the uncertainty.
Finally, 'ricordo' would sound a bit strange here. Italians use the subjunctive more than English speakers do. Phrases that start with the word 'che' very often require the subjunctive.
Thanks for the explanation! I was (and still am) struggeling with the subjunctive, especially trying to find out if it is compulsory or optional, and when to use it. Going through the DL exercises didn't really teach me any of this - maybe it's time I took some lessons instead of trying to figure it out by myself :)
Is this actually correct? I've learnt elsewhere that this subjunctive form may be used only when there are two subjects in the sentence and they're not the same: https://onlineitalianclub.com/free-italian-exercises-and-resources/online-italian-course-intermediate-b1/congiuntivo-semplice/
So this one should in fact read È importante che mi ricordo il titolo, shouldn't it?