Some versions of the Python interpreter support editing of the current input line and history substitution, similar to facilities found in the Korn shell and the GNU Bash shell. This is implemented using the GNU Readline library, which supports Emacs-style and vi-style editing. This library has its own documentation which I won't duplicate here; however, the basics are easily explained. The interactive editing and history described here are optionally available in the Unix and CygWin versions of the interpreter.
This chapter does not document the editing facilities of Mark Hammond's PythonWin package or the Tk-based environment, IDLE, distributed with Python. The command line history recall which operates within DOS boxes on NT and some other DOS and Windows flavors is yet another beast.