Yes, it also applies (and perhaps even more) to DMT. As an aside, the process is usually called "integrating" the experience (for all psychedelics).
There are also many anecdotal reports of people suffering a so called "hyper-slap", or a bad trip, that they later attribute to not integrating previous trips properly, not taking the time to do it - that's far from a general rule though; I would simply suggest not abusing the substance. And also, not all experiences are so strong/profound that they require a long process of integration.
In my experience, remembrance also depends on the dose - it's easy to blackout completely if you take too much (although even then, once coming back, the psychological effects are there).