As someone has already said, it's very common for people to come in contact with HPV and in the vast majority of cases, the body just clears it and it causes you no bother. But as you mentioned, having HPV does increase your risk of having certain cancers, which is why people are now vaccinated against it. Smears now routinely test for HPV. If you have it, you will have more frequent smears than women who don't have it, which means that any changes (not cancer - abnormal cells that have the possibility of progressing to cancer) get picked up quickly and you can have treatment.
Your cold sore doesn't mean you are an increased risk of cervical cancer - it's cased by a different virus (HSV1). The only thing to be aware of with cold sores is not kissing/giving oral sex to people when you have cold sores so you don't pass the virus on to them.