It isn’t very easy, but it has gotten better as of 9330.
 You can search the ITEM_HISTORY and CHANGE_HISTORY tables to see when a user has created or modified something in the database, but there is no way (that I know of) to get a report on what a user has searched for and/or viewed previous to Agile 9330.
 The “Recent” folder can give a limited list of what they have viewed, but it will only cover however many objects Agile is configured to be displayed (10 is the default, but it can be increased up to 100). As of Agile 9330, a setting (Record Recently Visited History) can be set so that all objects a user viewed is logged in the database to the VISIT_HISTORY table (I think). Note that this will record *everything* that  the user viewed, so that table will probably fill rather quickly. No idea if when a user looks at the same object multiple times, will it record ALL such views, or only once per session. I have yet to see a client that has it enabled.
 There is also a setting as of Agile 9340 (Record Simple Search) that tracks what a user has been trying to find, but only when using Simple Search (Advanced Search is not tracked). They have been adding more tracking stuff in the past few releases.

Thankyou Kevin, I will research on this. This is one approach through DB layer.

Anything through Java/Weblogic layer. Any Interceptor?

There is nothing in terms of an “interceptor” that I am aware of. It would have to be something in the form of a PX or groovy script that happens right after an object is viewed, and the data written to a log file. The log files would then have to be processed to get information on who had seen what.
  You might want to look at the “sample” code Oracle provides for PXs to see if there is anything like this.