Memory card can be recovered .... just fill up the card with random data and simply delete it
In this case recovery will fetch the random data you filled in
This is simple and fast
I would say do the following in sequence:
1. do factory reset
2. format the card
3. Do a data shredding. Refer the link to learn how to do it - 9 Free Data Destruction Software Programs
Just to be doubly sure, do what Kartik says in above post, before Step 3.