Windows PowerShell: changing the command prompt

Question

Using Windows PowerShell, how do I change the command prompt?

For example, the default prompt says

PS C:\\Documents and Settings\\govendes\\My Docume         


        

Answer 1

Related to a comment to Ocaso Protal's answer, the following is needed for Windows Server 2012 as well as Windows 7 (in a PowerShell window):

new-item -itemtype file -path $profile -force
notepad $PROFILE

I would suggest the following as a prompt if you run with multiple user names (e.g. yourself + a production login):

function Global:prompt {"PS [$Env:username]$PWD`n>"} 

(Credit goes to David I. McIntosh for this one.)