Microsoft released update to address vulnerabilities in Flash Player for Internet explorer. For details look at KLA10757.

Technical details

To mitigate this vulnerability you can implement some of workarounds listed in original Microsoft advisory: disable Adobe Flash Player, prevent Adobe FP from running on Internet Explorer via Group Policy, prevent Adobe FP from running in Office 2010, prevent ActiveX controls from running in Office 2007 & 2010, set security zones settings to «High» to block kind of content, configure IE to prompt before running kind of content, use IE Trusted sites zone. For further instructions you can read original Microsoft advisory listed below.

Windows 8 for 32-bit Systems
Windows 8 for 64-bit Systems
Windows Server 2012
Windows RT
Windows 8.1 for 32-bit Systems
Windows 8.1 for 64-bit Systems
Windows Server 2012 R2
Windows RT 8.1
Windows 10 for 32-bit Systems
Windows 10 for 64-bit Systems

Install necessary updates from the KB section, that are listed in your Windows Update (Windows Update usually can be accessed from the Control Panel)

3144756

The following public exploits exists for this vulnerability:

https://www.exploit-db.com/exploits/39609

Malware exists for this vulnerability. Usually such malware is classified as Exploit. More details.