Alright,
Second entry almost a full month later!
So, a while ago whilst I was trying to SSH into a Linux box from another Linux box I accidentally pasted the password into the console. Oh noes! Me, being the security conscious person I am, decided to delete the command via the # history -d [line entry number]. This of course leaves an entry in your history showing that you have deleted a line. Oh noes, Someone will see this and think I've been up to no good!
So I thought that I needed a way to delete a line from the history file without actually leaving this trace behind. The solution to this problem is this;
# history -d $((HISTCMD-1)) && history -d [line entry number]
Of course you could also use this command to run another command without it getting logged to the history file if you were so inclined;
# history -d $((HISTCMD-1)) && [type_your_command_here_and_execute]
Thanks to Mr b0nd for this awesome tip - http://www.garage4hackers.com/f28/linux-history-how-avoid-getting-logged-1032.html