Something that hasn't been mentioned yet, but is just another opportunity to do it (in vanilla Emacs, no need to use Helm or IDO). You could use bookmarks. Specifically for opening files you would C-x r m - create a bookmark (you will be prompted for a name to give to the bookmark), and then C-x r b would later invoke that bookmark (will prompt you for the name you had previously given to the bookmark).
This will save you some typing, if your primary use of the path is to open files, but if you need to insert it as text, then it won't replace the abbreviation.
One more thing, perhaps, if you didn't know. Once you've typed the path after C-x C-f you can then use:
C-x C-fM-p or M-n to navigate the history of the files you've opened up and down.
C-x C-fM-r to search the history by providing it with regular expression (one downside though, you won't see the match it is going to make while you type the regexp).