Vulnerability in Adobe Flash Player

Adobe announced that a vulnerability exists in its Flash Player 10.0.12.36 (and earlier). The exploit requires you to load a malicious Shockwave Flash file (this could also be embedded in a malicious website) that can then execute code with full user privileges.
You should update to version 10.0.22.87 for all browsers that you have installed.
Adobe has the bad habit of trying to get you to use the Google Toolbar. If you don't want this be sure to clear the check box for that on the download page. Also, in Internet Explorer you should close all other windows and tabs other than the download window or the installation may silently fail. (In that case you would not see the new version number after the installation.)
After the update, read this blog post on how to verify/change your Flash Player privacy settings.
If you don't know what version you have, you can simply go to this Adobe page to check.