In the Faery Tradition, lore is not regurgitated factoids about the tradition, or a memorized list of Spirit Names and attributes. Lore is more than that.
Lore is the remembrance of experiences -- whether those are the experiences handed down from sorcerers past or the experiences one has in their own practice -- and the interpretations of said experiences in the form of story, anecdote, and interaction. And especially being a guardian of lore is about having experiences and being able to see how they interact with what others have experienced of the Current, of the gods and ancestors, relating and weaving together different pieces of lore to form a more complex, rich experience of the tradition to hand down. Just like in restorative agriculture/holistic farming, make the Land, or the tradition, better than you found it.
Witchcraft happens at the site of the body, and each witch, because of the Otherworldly components of soul woven into our humanity, along with the roster of relationships with spirits, works magic in a unique way; is able to coalesce and coerce sorcerous events into manifestation in ways particular to them.
My magister, Gabriel Carrillo, said, “The lore is the shape of the whirlwind that is the Faery Power,” and being a good keeper of that lore is also being able to relate that shape to others. We'd have no tradition without some of the lore... it is what is handed down, inseparably from the Power. Gabriel gave me the image of a harp as Faery: the Power is the strings, and the lore is the body of the harp, that which gives the Power shape and form from which we can play music/make magic. We each make the “harp” anew in our own image, but it's all based on a similar form, though we may embroider each body with our own styling. But not just any form will do -- there are forms that just don't make a harp, that won't play our sounds. So Faery is created anew with each new initiate...we all make new stories with our own precious discoveries in our personal experiences within the Tradition. The Ancestors did this, our teachers did this; it is how lore is made. Somebody somewhere along the line had experiences consistently enough that they told others about them; you can't force it, you can't hold it back from happening when you are what we are. At my Faery Tradition initiation, I conceived that while I was waiting in a room alone, I knew that my initiators were busy gathering up the Cosmos from its vast expanse, gathering it up like strands of thread, making it small enough that it would fit inside me, so when the time came, my orgasm -- the same one wrought by God Herself which creates the universe -- would birth a universe anew; that the tradition would be reborn through me. And that each and every initiate does this same deed. Such a tradition shall never die because we each rebirth it in our own way, letting it shed skins and change shape so it may be cunning in every place it goes in every age. I don't think one can be a lore keeper in my tradition unless one is well-versed in trance states and visits the Otherworld often, through ritual and visionary dream -- the gods and Ancestors tell their own stories, and the lore keepers relate them back. I think a good guardian and receiver is also a poet, for poetry, in my experience, is the best way to relate the often uncanny and surreal experiences of witchery.