A easy way to handle this situation is to use a list:
lineEdits = []
for _ in range(5):
myLineEdit = QtGui.QLineEdit("myLineEdit")
lineEdits.append(myLineEdit)
myLayout = QtGui.QHBoxLayout()
for lineEdit in lineEdits:
myLayout.addWidget(lineEdit)
Alternatively you could use a dictionary, if you'd later like to reference a widget by a key:
lineEdits = {}
for i in range(5):
myLineEdit = QtGui.QLineEdit("myLineEdit")
lineEdits[i] = myLineEdit
lineEdits[3].setText("My new text")