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The prompt environmental variable is PS1. This is configured in the .bashrc file. For example, the following sets the prompt:
[alice@localhost]: export PS1="[\u@\h]\w $"
There are a number of control sequences defined inside the PS1 variable: for example, \u
is the username, \h is the hostname of the system and \w is the current directory.
The bash man page has many more - search the bash man page for PS1 for a complete list.