Go to next/previous word on the command line

I have been looking for a way to move forward and backward on the command line by bigger chunks than just character by character. Something like go back a word, or go to next word.

I finally found it:

• to go back a word, press Esc, then the letter b
  
• to go forward a word, press Esc, then the letter f
  

I must say that the key sequence is some what awkward to hit right. Never mind about repeating it to move back/forward several words.

With that said, I found what I was looking for.