The reactivation of a synaptically stored memory in the brain can make the memory transiently labile. During the time it takes for the memory to re-stabilize (reconsolidate), the memory can either be reduced by an amnesic agent or enhanced by memory enhancers. The change in memory expression is related to changes in the brain correlates of long-term memory. Many have suggested that such retrieval-induced plasticity is ideally placed to enable memories to be updated with new information. This hypothesis has been tested experimentally, with a translational perspective, by attempts to update maladaptive memories in order to reduce their problematic impact. Here, we review the progress on reconsolidation-update studies, highlighting their translational exploitation and addressing recent challenges to the reconsolidation field.