The underlying principles for generating intelligent behavior in living organisms are fundamentally different from those in traditional solid‐state circuits. Biomimetic neuromorphic equivalents based on biological membranes offer novel implementation of tunable plasticity and diverse mechanisms to control functionality. Here, dynamic electrochemical impedance spectroscopy (dEIS) to probe diphytanoylphosphatidylcholine (DPhPC) droplet interface bilayers (DIBs) to better understand the differences in molecular level structure/dynamics that give rise to hysteretic loops and neuromorphic, memelement behaviors in lipid bilayers in response to electrical biasing is used. Importantly, this system does not have ion‐conducting channels and is, therefore, not expected to show memristive behavior. Surprisingly, both memristive and memcapacitive behaviors by measuring the time‐dependent complex impedance of DPhPC DIBs are detected. It is shown that nonlinear memristance can originate from structural changes in the bilayer, affecting its dielectric properties. This novel dEIS application allows for the simultaneous analysis of the system's changing memristive and memcapacitive properties, which originate from different molecular restructuring processes. Moreover, and importantly, access to this type of information increases the number of neuromorphic processes supported simultaneously in a single two‐terminal device.