How to erase your tracks and protect privacy in Windows 7?

Not that I have anything in particular to hide, but since the Snowden revelations about how widespread government surveillance and overreach has become, I would like to scrub my PC’s history on a regular basis – clear caches, erase trace files, delete logs, etc. What’s the easiest way to take care of this with Windows 7?

Story added 24. June 2014, content source with full text you can find at link above.