Memristors have emerged as a transformative technology in the realm of electronic devices, offering unique advantages such as fast switching speeds, low power consumption, and the ability to sensor-memory-compute. The applications span across non-volatile memory, neuromorphic computing, hardware security, and beyond, prompting memristors to become a versatile solution for next-generation computing and data storage systems. Despite enormous potential of memristors, the transition from laboratory prototypes to large-scale applications is challenging in terms of material stability, device reproducibility, and array scalability. This review systematically explores recent advancements in high-performance memristor technologies, focusing on performance enhancement strategies through material engineering, structural design, pulse protocol optimization, and algorithm control. We provide an in-depth analysis of key performance metrics tailored to specific applications, including non-volatile memory, neuromorphic computing, and hardware security. Furthermore, we propose a co-design framework that integrates device-level optimizations with operational-level improvements, aiming to bridge the gap between theoretical models and practical implementations.