I have a MediaWiki running on multiple AWS instances and login and registration is broken. The session.save_path is set to /tmp which is writeable and readable by anyone. I use
Per Aaron Schulz, don't use the default session handling, it's disastrous.
As you have memcached enabled, add
$wgMainCacheType = CACHE_ANYTHING; $wgSessionsInObjectCache = true;
in your LocalSettings.php and let us know if things improved (they definitely should).
LocalSettings.php