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The developers of Mozilla Firefox are working hard to bringing out the 3.1 version of Firefox. One of the new most awaited features that 3.1 brings is the Private Browsing mode, which is essentially the Incognito mode of Google Chrome and InPrivate of Internet Explorer 8. With private browsing, nothing will be saved on to your computer when you surf the net. This means no history in your browser, no cookies, no traces at all. You can find out more details about this feature from this article.
Now, this is all good, but Firefox 3.1 is not scheduled to be released anytime before February(Beta 3 of Firefox 3.1 is scheduled to be released in February). However, a recently new Firefox extension called Private Browsing allows you to enjoy this feature in Firefox 3.0. Below is a screenshot showing the different aspects that you can control with this extension:

To download this extension, click here.