If you ask a Jew today what the Passover commemorates, he would (in all likelihood) say that it commemorates the Exodus from Egypt. But is that what the Bible teaches? No, not at all. The scriptures define the meaning - because it was named for an event that God performed.
The day and the sacrifice are named after the event that God performed when He passed over the children of Israel. It does not memorialize, it does not commemorate, the going out of Egypt. It memorializes, it commemorates, God passing over (sparing) the Israelites.
The Passover is established to commemorate God's passing over. Nothing could be plainer - to anybody who is of a mind to believe God! We are dealing with two different events, two different days, and two different festivals - one on the fourteenth, and one on the fifteenth.
A different event altogether! They went out on the fifteenth. The Passover took place on the fourteenth. The Passover commemorates the passing over. The Feast of Unleavened Bread memorializes, and commemorates, the going out.
Now, why would God destroy one nation of idolaters (that is, Egypt) and yet deliver another nation of idolaters (that is, Israel)? God's displeasure in Ezekiel is obvious, and He gives no hint that the blood of the Passover lamb was for atonement. Israel's sins weren't being dealt with - God was overlooking them. This is why, according to Strong's, the Hebrew word for Passover (pesach) means, a pretermission; [that is, an] exemption. The word pretermission is hardly used today, but it basically means, an omission. To pretermit means to let pass without mention or notice. It is similar to mercy or grace (see Numbers 14:19; Romans 9:15-18). When Israel was in Egypt, God passed over them and their sins. Moses says this in Exodus 12:27:
This exemption - this sparing; this act of mercy rather than justice - is not the same as paying for or removing their sins. Instead, God overlooked their sins. Thus, the Passover is a demonstration of God's gracious acceptance rather than atonement.
The second thing that we saw is that Passover is named for God passing over the Israelitish people while they still remained in their homes. Please remember that. In their homes - not in tents, gathered in some place, but in their houses. That is very specifically pointed out.
That little phrase, in their houses, is going to become important a little bit later on, as we evaluate some of the circumstances regarding the Exodus - the leaving of the children of Israel from Egypt. But the Passover is named for God passing over the children of Israel - while still in their houses.