I just added a "recent posts" list in my sidebar, and one of the titles was long enough that it wrapped to the next line. Since I don't use bullets in the sidebar, I wanted the wrapped line to be indented.
I found you could assign a negative text-indent to the css for the list, which would move all the first lines left, and any wrapped lines would then look indented.
I don't know if it's possible to indent the wrapped lines directly instead... but for now this works for me.
Edit: forgot to mention so far I have only implemented this in my "Boxed Apart" theme.
Edit #2: You could add
if you don't want the whole list moving left.