Have you had it on power all the time AND in sleep mode?
Thats bad on the battery
Sleep mode is one thing and fine, sleep AND power is another thing.
"Apple does not recommend leaving your portable plugged in all the time."
General consideration of your MacBook battery
Contrary to popular myths about notebook batteries, there is protection circuitry in your Macbook and therefore you cannot ‘overcharge’ your notebook when plugged in and already fully charged.
However if you do not plan on using your notebook for several hours, turn it off (plugged in or otherwise), since you do not want your Macbook ‘both always plugged in and in sleep mode’.
A lot of battery experts call the use of Lithium-Ion cells the "80% Rule", meaning use 80% of the full charge or so, then recharge them for longer overall life. The only quantified damage done in the use of Lithium Ion batteries are instances where the internal notebook battery is “often drained very low”, this is bad general use of your notebook battery.
A person who has, for example, 300 charge cycles on their battery and is recharging at say 40% remaining of a 100% charge has a better battery condition state than, say, another person who has 300 charge cycles on their battery and is recharging at say 10-15% remaining on a 100% charge. DoD (depth of discharge) is much more important on the wear and tear on your Macbook’s battery than the count of charge cycles. There is no set “mile” or wear from a charge cycle in specific. Frequent high depth of discharge rates (draining the battery very low) on a Lithium battery will hasten the lowering of maximum battery capacity.
All batteries in any device are a consumable meant to be replaced eventually after much time, even under perfect use conditions.
➕If the massive amount of data that exists on lithium batteries were to be condensed into a simplex, helpful, and memorable bit of information it would be:
1. While realistically a bit impractical during normal everyday use, a lithium battery's longevity and its chemistry's health is most happy swinging back and forth between 20% and 85% charge roughly.
2. Do not purposefully drain your battery very low (10% and less), and do not keep them charged often or always high (100%).
3. Lithium batteries do not like the following:
A: Deep discharges, as meaning roughly 10% or less on a frequent basis.
B: Rapid discharges as referring to energy intensive gaming on battery on a frequent basis (in which case while gaming, if possible, do same on power rather than battery). This is a minor consideration.
C: Constant inflation, as meaning always or most often on charge, and certainly not both in sleep mode and on charge always or often.
From Apple on batteries:
http://www.apple.com/batteries/notebooks.html
http://support.apple.com/kb/HT1446
"Apple does not recommend leaving your portable plugged in all the time."