Its It's

I finally figured out my its/it's problem. I feel so stupid, but I completely forgot which use was which. This is how I remember:
Its is possession, it snuggles its "s" close; It's does not, not to mention it's quite obvious that it is a contraction of two words. Jeesh!

I looked up "Its possessive" and found this picture:

...whose owner is Crank Sturgeon. Who is a dadaist noise art performance dude(fish?), maybe?