Does partying make you stupider? dumber?

Drugs and alcohol both have a negative effect on memory and brain cells in general. It's okay to have a good time but if that involves getting so stoned or drunk that you can't remember the previous night in much detail then you are doing yoursefl harm. Individual differences in people also mean that one person can do what you are doing and be fine while another falls in the gutter in later life. You never know which you will be.