To get there in Excel 2010, click the File tab, and then select Options in the left pane. In Excel 2007, click the round Office button, and then click the Excel Options button at the bottom of the ...

You can show File Path on Title Bar in Excel and Word by creating and running a Macro - and even in Quick Access Toolbar too. This post explains the process in detail.

If you're using Excel offline, or just prefer to take a more direct role in deleting the cache, the process is a little longer, but still fairly simple. Switch to the File tab in Excel.