Internet Explorer Security Alert

When i heard about the news, of course i get alarmed as an Internet Explorer user. In the meanwhile i am temporarily using FireFox at this moment. It's hard to have a virus in the computer, driving me crazy and if it's not fixable or hard to fix, I'm gonna lost all my files and start over again buy replacing the hard drive. But this time scary hackers are everywhere so it's nice to be safe.
This is the 1st news that i heard:

"The major press outlets are abuzz this morning with news of a major new security flaw that affects all versions of Internet Explorer from IE5 to the latest beta of IE8. The attack has serious and far-reaching ramifications -- and they're not just theoretical attacks. In fact, the flaw is already in wide use as a tool to steal online game passwords, with some 10,000 websites infected with the code needed to take advantage of the hole in IE.

Virtually all security experts (as well as myself) are counseling users to switch to any other web browser -- none of the others are affected, including Firefox, Chrome, and Opera -- at least for the time being, though Microsoft has stubbornly said it "cannot recommend people switch due to this one flaw." Microsoft adds that it is working on a fix but has offered no ETA on when that might happen. Meanwhile it offers some suggestions for a temporary patch, including setting your Internet security zone settings to "high" and offering some complicated workarounds. (Some reports state, however, that the fixes do not actually work.)

Expedient patching or switching are essential. Security pros fear that the attack will soon spread beyond the theft of gaming passwords and into more criminal arenas, as the malicious code can be placed on any website and can be adapted to steal any password stored or entered using the browser. It's now down to the issue of time: Will Microsoft repair the problem and distribute a patch quickly enough to head off the tsunami of fraud that's about to hit or will it come too late to do any good?

Meanwhile, I'll reiterate my recommendation: Switch from Internet Explorer as soon as you can. You can always switch back once the threat is eliminated."

This is the latest tonight and they are giving opinions for the best things to do to protect our computer before they can fix the problems. So just check this out...

Microsoft is rushing out a software 'patch' at 6pm this evening to fix the problem. But how can you protect your computer in the meantime? Our technical expert, Rick Maybury, offers his top tips for ensuring your machine stays safe and secure:

• Don't panic! Althought the security flaw is a serious one, it has been identified and is about to be resolved. The majority of affected sites are in the Far East, and the Microsoft patch will be automatically downloaded to millions of computers over the next day or so, although we recommend installing it as soon as it's available – you can get it from http://windowsupdate.microsoft.com/ .
• Download a temporary fix released by security company Prevx: http://www.prevx.com/ie7.asp. This disables the vulnerable file (oledb32.dll), and will also restore it when the fuss dies down.
• Alternatively, increase the security level in Internet Explorer by going to Tools > Internet Options > Security. Click the Custom Level button and select 'High' on the Reset Custom Settings drop down menu.
• Switch to another browser for the duration. Secure alternatives include Firefox, Google Chrome , Apple Safari and Opera. They are all free and run alongside Internet Explorer without any problems.
• Avoid visiting Far Eastern websites, or sites carrying pornographic content.
• Make sure your security software is set to update automatically.
• If you absolutely must use Internet Explorer and visit risky sites then do not click on any unexpected popup boxes. If one appears close the program immediately by pressing Ctrl + Alt + Delete, (in Vista select Task Manager), select the browser on the list and click End Task.