If you don’t want people to know that you’ve been secretly searching for Twilight apps or ‘Hott Asain Babez’ (not that you need to look far for the latter on the Android Market) then you need HistoryEraser.
As well as nuking your search history on the Android Market, HistoryEraser also erases your call log, clears out all frequently called numbers under the Favourites tab and kills the histories of the standard browser and search shortcuts.
Sure you can do all of this already but it involves the usual diving in and out of the various settings menus. Having the option to preserve your dignity (read: destroy all evidence of your searches for pr0n) through one simple app is much more convenient.
HistoryEraser is free to download from the Market and works on Android devices running 1.6/Donut or higher. Those with 1.5/Cupcake on their Android phones can instead install MarketHistoryEraser which, as the name suggests, just kills your Market searches.