Is there any way to retire or hide items? (Groups to Exclude)

You can read the basics about groups here

Items cannot be hidden or "retired" individually, but you can hide groups. To do this go to the "Home" tab in the ribbon and choose "Preferences". For versions prior to version 11, go to the "View" menu and choose "Preferences".

Then choose the "Groups to Exclude" tab

Any groups checked in this window will be excluded in any searches. The items will still be "active", so if they are used as an ingredient in a recipe or person that is not excluded they will still behave normally.

NOTE: Depending on your version and history, ESHA items which have been Retired are placed in a Group called "Retired ESHA Codes".  If you do not wish to use any Retired ESHA Ingredient items in new/future recipes, choose this Group to be excluded.