Yes and no. To me, not remembering a person's name and/or other details they've shared with me personally means that there isn't enough respect from my part. And I expect that from the other person as well. So, being absent minded is not really an excuse because you haven't made any significant efforts to remember things. And the feeling of embarrassment is strong and unpleasant enough to try not to experience that frequently.
I used to be a lot worse when younger, in from one ear, out the other, even when I did try to remember things like that. Now I just try to pay attention and say the name over and over in my mind along with trying to imprint their face into my mind. It's like a small file in my head and whenever I meet the person, I go over the details again, so that they wouldn't slip my mind. And it works.
But sometimes, if I am careless or unless I write the most important stuff down, they're gone.