I\'m currently storing a fair amount of data in the $_SESSION variable. I\'m doing this so I don\'t need to keep accessing the database.
Should I be worried about me
Should I be worried about memory issues on a shared server?
Yes - session data is loaded into the script's memory on every request. Hence, you are at risk of breaking the individual per-script memory limit. Even if you don't hit the limit, this is really inefficient.
Accessing data from the database on demand is much better.
.. in addition to what @Pekka wrote:
PHP sessions an not alternative to a caching solution !
You should investigate if your server has APC available. You should use that on top of layer which accesses information from database (assuming you actually have an OO code).