Far Manager has powerful suppport for command history. ConEmu author even suggests using Far Manager with panels turned off instead of standard command prompt.
Ctrl+E gives you previous command entered. You can press it multiple times to get older entries. Ctrl+X moves you forward in the history.
Press Alt+F8 to view command history in the list:

You can execute a command from the list by pressing Enter. If you want to edit a command press Ctrl+Enter.
All shortcuts available in command history list:
| Enter | Re-execute a command |
| Shift+Enter | Re-execute a command in a new window |
| Ctrl+Alt+Enter | Re-execute a command as administrator |
| Ctrl+Enter | Copy a command to the command line |
| Del | Clear the commands history |
| Ins | Lock/unlock a history item |
| Shift+Del | Delete the current history item |
| Ctrl+C or Ctrl+Ins | Copy the text of the current command to clipboard |
Another useful shortcut is Ctrl+Alt+F – it lets you to search in the list by filtering it down. This shortcut is totally non-obvious and not documented anywhere so I was happy when I discovered it. It also works in folder history (Alt+F12).