In the General tab, check the Hide checkbox
Warning: checking the Hide in menu checkbox will remove the page from navigation menus, but the page will still be available to Web visitors after the change is published
To leave a page available to Web visitors, but hide a specific content element
If you're reasonably sure the content will be needed again, hiding a page/content gives you the ability to easily re-display the item.
If you would delete the content element instead, not only would you be operating under the time constraints of recovering the content, but you would have the hassle of un-deleting it.
Don't go too far overboard hiding contents. It may become difficult to sort through the backend to keep track of which pages and elements are visible and which are hidden if you leave too many hidden ones around.