In the development of IE 7 (my guess) MS have come up with this little tool primarily intended to solve some problem with a corrupt entry causing errors with IE.
Clear Cache Feature for Internet Explorer
As you all maybe know, the settings in IE 7 will be extended so one can manage cookies and files better. The tool (“feature”) is supposed to work with Windows XP SP1 and IE 6.0 or later. I do not know if all it does is clear cache, cookies, history and passwords in one sweep, after all it was developed to programmatically clear these, or if it does it more thoroughly than clicking all these settings manually. Also, I do not know if this tool (“feature” 
) works with every non English version, and thus I have not tried to run it. There is no mention about languages that I have found yet.
This one is kind of MS Malicious Software Removal Tool, in the aspect that you have to “install” it every time to run it, so I’ve heard, OK the MRT may be found in System32. This is an .msi package.
NB
“Running this program might delete passwords that are stored in your temporary storage location.”
You may lose all stored passwords, so anyone be careful if using.
