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Microsoft has issued an alert in order to notify users of a critical security flaw in IE 7, that could potentially enable hackers to take control of your computer, steal your passwords and do other wacky things. The good thing is that Microsoft has said that it is working day in and day out in order to ship an emergency security patch, but in the meantime the company has asked the users to stay vigilant. However Microsoft spokesman has stated that they dont recommend users to switch browser just because IE could let hackers steal your personal data or passwords.

According to BBC News:

"In this case, hackers found the hole before Microsoft did," said Rick Ferguson, senior security advisor at Trend Micro. "This is never a good thing."

As many as 10,000 websites have been compromised since the vulnerability was discovered, he said.

"What we’ve seen from the exploit so far is it stealing game passwords, but it’s inevitable that it will be adapted by criminals," he said. "It’s just a question of modifying the payload the trojan installs."

Said Mr Ferguson: "If users can find an alternative browser, then that’s good mitigation against the threat."

But Microsoft counselled against taking such action.

"I cannot recommend people switch due to this one flaw," said John Curran, head of Microsoft UK’s Windows group.

He added: "We’re trying to get this resolved as soon as possible.