If I am depressed now does that mean I will have to be medicated for the rest of my life? Is there something wrong with me? Will it get better?

Depession lifelong? If depression if treated to remission, be totally normal in all aspects of life, medication(s) can be gradually tapered off. If depression recurs, resume treatment for longer duration (twice as long) before tapering off. If depression recurs again then treatment needs be for life. What matter is if you are normal with meds, then no reason to not take meds to insure a secure and happy life.
Very treatable. Depression is quite common (in 2005- '06, 1 in 20 us citizens above the age of 12 will struggle with it, according to most recent data available on depression from cdc). Fortunately it is one of the most treatable mental health conditions (e.g., for people in treatment, up to 50% recover within 6mo, 80% recover within 1yr). Hope this helps, and best regards.