Type <kbd>Ctrl</kbd> <kbd>R</kbd> at the command line and start typing the previous command.  Once a result appears keep hitting <kbd>Ctrl</kbd> <kbd>R</kbd> to see other matches.  When the command you want appears, simply press <kbd>Enter</kbd>

Note that while <kbd>Ctrl</kbd> <kbd>R</kbd> is the default, if you wanted the command (`reverse-search-history`) to be bound to <kbd>Ctrl</kbd> <kbd>T</kbd> you could configure that with the following:

<pre>
bind '"\C-t": reverse-search-history'
</pre>

There are a whole host of other readline bindable commands that are available to you as well.  Take a look at the [`bash` man page][1].

  [1]: http://www.gnu.org/software/bash/manual/bashref.html#Bindable-Readline-Commands