Best way would be to push some heat-shrink sleeving along the cable somewhere, solder the two together, and then put the heat-shrink over the join, and shrink using a hairdryer. The heat-shrink will then act as an insulator. I think Maplin do the stuff...
Depending on what guage your cable is, you might need a hefty soldering gun, rather than an iron intended for electronics use...
You can alsoget some specific banana type plugs that do the job. You connect your cable to a plug, the extra bit to another plug, unscrew part of one plu and it makes a socket so you can join the two together. There is a name for tham but I can't remember what it is.
Whats wrong with good old chocolate blocks. The best way to fit them is to twist the 2 pieces of cable together and then put them in the same end of the block, you then have 2 screws holding both pieces of cable in place.. Just get the appropriate size to match the cable. Maybe not thet pretty but easy enought to hide.
best use of block. get the wires under both screws aswell. it can be a bit more tidy to feed a wire in each end, but see that they pass each other and get both screws down on them. not to tight with the screws to, its an electrical connector, not a wire cutter 🙂
maplin will sell them in gold for car audio. Only cost a leg lol