What is the line? You can just have arguments on the next line without any problems:

a = dostuff(blahblah1, blahblah2, blahblah3, blahblah4, blahblah5, 
            blahblah6, blahblah7)

Otherwise you can do something like this:

if (a == True and
    b == False):

or with explicit line break:

if a == True and \
   b == False:

Check the style guide for more information.

Using parentheses, your example can be written over multiple lines:

a = ('1' + '2' + '3' +
    '4' + '5')

The same effect can be obtained using explicit line break:

a = '1' + '2' + '3' + \
    '4' + '5'

Note that the style guide says that using the implicit continuation with parentheses is preferred, but in this particular case just adding parentheses around your expression is probably the wrong way to go.

From PEP 8 - Style Guide for Python Code:

The preferred way of wrapping long lines is by using Python's implied line continuation inside parentheses, brackets and braces. If necessary, you can add an extra pair of parentheses around an expression, but sometimes using a backslash looks better. Make sure to indent the continued line appropriately.

Example of implicit line continuation:

a = (
    '1'
    + '2'
    + '3'
    - '4'
)


b = some_function(
    param1=foo(
        "a", "b", "c"
    ),
    param2=bar("d"),
)

On the topic of line breaks around a binary operator, it goes on to say:

For decades the recommended style was to break after binary operators. But this can hurt readability in two ways: the operators tend to get scattered across different columns on the screen, and each operator is moved away from its operand and onto the previous line.

In Python code, it is permissible to break before or after a binary operator, as long as the convention is consistent locally. For new code Knuth's style (line breaks before the operator) is suggested.

Example of explicit line continuation:

a = '1'   \
    + '2' \
    + '3' \
    - '4'

That's a start. It's not a bad practice to define your longer strings outside of the code that uses them. It's a way to separate data and behavior. Your first option is to join string literals together implicitly by making them adjacent to one another:

("This is the first line of my text, "
"which will be joined to a second.")

Or with line ending continuations, which is a little more fragile, as this works:

"This is the first line of my text, " \
"which will be joined to a second."

But this doesn't:

"This is the first line of my text, " \ 
"which will be joined to a second."

See the difference? No? Well you won't when it's your code either.

(There's a space after \ in the second example.)

The downside to implicit joining is that it only works with string literals, not with strings taken from variables, so things can get a little more hairy when you refactor. Also, you can only interpolate formatting on the combined string as a whole.

Alternatively, you can join explicitly using the concatenation operator (+):

("This is the first line of my text, " + 
"which will be joined to a second.")

Explicit is better than implicit, as the zen of python says, but this creates three strings instead of one, and uses twice as much memory: there are the two you have written, plus one which is the two of them joined together, so you have to know when to ignore the zen. The upside is you can apply formatting to any of the substrings separately on each line, or to the whole lot from outside the parentheses.

Finally, you can use triple-quoted strings:

"""This is the first line of my text
which will be joined to a second."""

This is often my favorite, though its behavior is slightly different as the newline and any leading whitespace on subsequent lines will show up in your final string. You can eliminate the newline with an escaping backslash.

"""This is the first line of my text \
which will be joined to a second."""

This has the same problem as the same technique above, in that correct code only differs from incorrect code by invisible whitespace.

Which one is "best" depends on your particular situation, but the answer is not simply aesthetic, but one of subtly different behaviors.

Style guide (PEP-8) says:

The preferred way of wrapping long lines is by using Python's implied line continuation inside parentheses, brackets and braces. Long lines can be broken over multiple lines by wrapping expressions in parentheses. These should be used in preference to using a backslash for line continuation. Make sure to indent the continued line appropriately. The preferred place to break around a binary operator is after the operator, not before it.

Method 1: Using parenthesis

if (number > 5 and
        number < 15):
    print "1"

Method 2: Using backslash

if number > 5 and \
number < 15:
    print "1"

Method 3: Using backslash + indent for better readability

if number > 5 and \
        number < 15:
    print "1"