There's a lot of information on hidden data over at:
Microsuck | Microsoft's Really Hidden Files (I love their URL). You wouldn't believe where they hide their information.
Quote:
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Within these folders you will find two major things: Microsoft Internet Explorer has not been clearing your browsing history after you have instructed it to do so, and Microsoft's Outlook Express has not been deleting your e-mail correspondence after you've erased them from your Deleted Items bin. (This also includes all incoming and outgoing file attachments.) And believe me, that's not even the half of it.
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{fanboy aside} If you were using Firefox, the data only gets stored in one place, and you could use an extension such as 'X' to clear everything or selected things in one swell foop.{/fanboy aside}