Forgive... but also forget?

You know the old adage "forgive and forget"? Christians are clearly called to forgive, and sometimes it's definitely a struggle for me. For the most part, though, simply thinking about my own screw-ups and the ultimate forgiveness I've received through Christ is enough to make it happen. What's more difficult for me is the "forgetting" part. When someone hurts or disappoints me, I can typically forgive that individual and move on, but I do lose some degree of respect for him/her -- which affects the way I interact moving forward. "Once bitten, twice shy," I guess...