Using 'set -o vi' from the command line, or better, in .bashrc, puts you in vi editing mode on the command line. You start in 'insert' mode so you can type and backspace as normal, but if you make a 'large' mistake you can hit the esc key and then use 'b' and 'f' to move around as you do in vi. cw to change a word. Particularly useful after you've brought up a history command that you want to change.
