Bare Essential

#on mac

C-a Move to the start of the line.
C-e Move to the end of the line.
C-b Move back one character.
C-f Move forward one character.

C-k Kill the text from the current cursor position to the end of the line.
C-w Kill from the cursor to the previous whitespace.
C-y Yank the most recently killed text back into the buffer at the cursor.
C-_ or C-x C-u Undo the last editing command. You can undo all the way back to an empty line.
Movement

M-f Move forward a word, where a word is composed of letters and digits.
M-b Move backward a word.
M is Meta key. For Max OS X Terminal you can enable "Use option as meta key" in Settings/Keyboard for that