Find the current location of the History folder by following these steps.
1.Open Internet Explorer.
2.Go to Tools > Internet Options.
3.In the General Tab, under Browsing history click on Settings.
4.You should be able to locate the current location of your temporary files where all your cache files, cookies and history are stored.
5.Click on view files. That should directly take you to the location of the Temporary Internet Files.
6.Go one step up and you should see your History folder.
Hope this clarifies your doubt.
You can delete the contents of the History folder in case you're using a public computer and don't want any of your personal information to be left behind because webpage history stores information about the websites that you visit.