GNU readline is a commonly used library for line-editing, it is used for example by bash, ftp and many more (see Arch Package details under "Required By" for more examples). readline is also customizable (see manpage for details).

Keyboard Shortcut Description
Ctrl+L Clear the screen
Cursor Movement
Ctrl+B Move cursor one character to the left
Ctrl+F Move cursor one character to the right
Alt+B Move cursor one word to the left
Alt+F Move cursor one word to the right
Ctrl+A Move cursor to start of the line
Ctrl+E Move cursor to end of the line
Copy & Paste
Ctrl+U Cut everything from line start to cursor
Ctrl+K Cut everything from the cursor to end of the line
Alt+D Cut the current word after the cursor
Ctrl+W Cut the current word before the cursor
Ctrl+Y Paste the previous cut text
Alt+Y Paste the second latest cut text
Alt+Ctrl+Y Paste the first argument of the previous command
Alt+.or_ Paste the last argument of the previous command
History
Ctrl+P Move to the previous line
Altl+N Move to the next line
Ctrl+S Search
Ctrl+R Reverse search
Ctrl+J End search
Ctrl+G Abort search (restores original line)
Alt+R Restores all changes made to line
Completion
Tab Auto-complete a name
Altl+? List all possible completions
Alt+* Insert all possible completions