IE7 gives you a good amount of control when it comes to clearing your personal data and browsing history/cache. To get to it, go to the menu bar and choose "Delete Browsing History...". You'll get a window that allows you to clear individual sections of data (cookies, browsing history, cached pages, passwords, etc), or you can choose the "Delete All..." button to delete all of your personal data and browsing history. Of course, in true Microsoft fashion once you push a button you'll need to confirm that you really want to do what you just said you wanted to do.