I saw this before but can't find it in search

Anyway in a nutshell my cpu is being maxxed out while processing a log file for one of my doamins. What i need to know is #1 how to go remove these logs and #2 how to stop them from being made.
I get a guestimated 100,000 hits a day and about 50,000 are errors. this is caused by me allowing hotlinking and the fact over the years moved things around so places still point to the old place. I am assuming this is what is causeing the massive log size But with this problem I cannot even access my server 1/2 the time cause of this error. Plus everything is failing (cpu overload)

Please let me know where I can fix this problem. Thnaks for your time