When I open up Terminal (on Mac OS X 10.5.8) and type a long command line:

...the text doesn't go to the next line when it wraps around:

Also, sometimes when I type a command and then backspace (or up-arrow or ^U):

...the entire line isn't erased and I can't backspace beyond a certain point:

Is this a known bash bug (on Mac OS X)? Is there a fix?
Update: Juliano was correct, the problem was caused by incorrectly delimiting a console code sequence in my PS1 variable. Changing:
export PS1='\[\033[1;34m\]\$\]\033[0m\] '
...in my .bashrc to:
export PS1='\[\033[1;34m\]\$\[\033[0m\] '
...solved the problem.