Until Microsoft patches this latest Flash related Internet Explorer vulnerability (that's ALL IE versions on ALL Microsoft operating systems), users are recommended to switch to another browser by the governments of USA, UK and Sweden.
Microsoft have confirmed that this security flaw is already being exploited and have advised a number of ways this exploit can be mitigated - one of which is disabling Flash. A specially crafted flash file on a web server can be used by a hacker to gain the same rights to change your computer that you have. That's very bad news if you run with administrator rights. Even with standard user rights, all of your files could be corrupted or deleted for example.
Windows XP users will never have this vulnerability patched
Microsoft provide regular software updates every month, with the next release scheduled for May 13th. They may issue a patch for this serious exploit before then.
Picture: Ants preparing for stormy weather. How good are your defences?