It sounds stupid and made-up, but it's appeared in text dating from the 17th century, and has been used by Jonathan Swift, Thomas Jefferson, John Locke, and Nathaniel Hawthorne.
Congressman Shay: Excuse me, I didn't hear you (haha).
Roger Clemens: Andy Misremembers, I believe Andy Misremembers.
Me: Misremembers? That's not even a word.