Knowledge is power is true in each sense. But, how does one attain this power is not so obvious. Its just not the possession of knowledge that gives you power but the way you use it in your life. There have been people who had the best knowledge in the world but they were not successful and there were others who had quite less knowledge but were more successful. Take the example of Bill Gates, any college graduate today would have more knowledge than what he had when he was a teenager but still he made a fortune from what he knew and utilizing the limited amount of knowledge he had.
An important observation I have made is that, people misinterpret the term "knowledge" as the knowledge you get from the books, which is completely wrong. Knowledge is a wide term which is not just associated with the books but with the everyday experiences one have in his life. It can be anything ranging from a minor incident to some big technical invention. It is this profound knowledge that one should aim for, to achieve success in life.