No such thing as best way to study. You have to understand
yourself to know how you will study best.
First, find out your best study times. Is it morning, afternoon or
night? Study during that period of time. Eat and rest well before
that period of time so that you will be at your peak.
Secondly, don't memorise theories. Link to experiences. For
Chemistry, it will be quite easy. If you have done enough
experiments in school, you will find certain topics easy to
understand and therefore can remember. If there's no experience,
try other ways. For example, write down the main points of that
theory. Find examples to support it.
Lastly, get a study mate(s). You help them, they help you, it will
help you to memorise better.