Depends if your hosting, or a hoster is. Usually, you get more memory by upgrading your hardware, or if a hoster is hosting, buying more expensive servers.
If your hosting the server then you can look at Minecrafts download page and download the Minecraft_server.jar and it tells you how to make the server use more Ram then it defaults to via th ecommand line. It also has a link in the description to the Minecraft Wiki for a huge amount of info for server tweaks. If you have a low end broadband adding ram won't make the lag any better.
Chat with our AI personalities
No, but you can put it on a floppy.
Well There is no actual minecraft server client to make morecreeps & weirdos online
A dedicated Minecraft server is a server where you can play original Minecraft. Usually without plugins or mods.
Minecraft 1.2.3 is a game version, not a server.
The Mineplex MineCraft Server is owned by Bluetomb.