If you have Java, be sure to update the software right now. Oracle just updated its Java plugin to Java 7 Update 7, and patches many security issues that allows an attacker to install malware through malware-infested sites.
Even though Oracle has an update cycle for the Java plugin, the update was still months ahead. The most logical reason for the early release is due to the security warnings from researchers and their recommendation to completely disable the plugin to prevent getting infested.
Though the patch is out right now, the security hole was present for a couple of months now, even as early as April. The Polish firm Security Explorations has said that they warned Oracle on the thirty-one gaping security hole; and after two months, only two of the thirty-one were patched in June.
Even though the patch is available to download, it is likely that it will still take months before most computers are updated and patched. This is especially with non-Windows based users. The Flashback virus had infected many Macs before Apple and Oracle sent a patch to the Macs.
As the exploit is being sent out in hacking kits on the internet, an update is strongly recommended. Even though the patch is now just being implemented to computers, it will be a back and forward game as researchers find more ways Java can be compromised and the need for it to be patched.
You can download the update Oracle’s Java download page. Note that most users will just need the JRE version of Java.