Reducing Cached Files in Internet Explorer
In an effort to reduce page loading time, Internet Explorer saves web pages and images to a temporary location on your PC's hard drive. Next time you visit the web page (depending on your settings), Internet Explorer will simply redisplay the saved page instead of loading the actual web page and images. While this is useful for viewing a page quickly, you may be looking at out of date information. You can remember to always "Refresh" every page (F5) or you can minimize the caching by modifying your Internet Explorer options.
NOTE: The following examples are taken from Internet Explorer 5.5, but should apply to versions 5.0 and above.
From the Internet Explorer menu, select Tools/Internet Options:

From the General tab, click "Delete
Files..." in the Temporary Internet files section:

In the Delete Files window, click the
box labeled "Delete all offline content",
then click OK:

The Internet Options window will still
be on your screen.
Click the "Settings" button. In
the Settings window, click "Every visit to the
page" in the section labeled Check for newer versions of
stored pages.
In the Temporary Internet files folder section, reduce the Amount of
disk space to use to its lowest setting.
Click OK:

When this window closes, click OK
on the Internet Options window.