A report about a new Flash vulnerability that affected the latest two versions of Adobe Flash was spreading like fire on the Internet yesterday. The Flash Vulnerability was used on specially prepared websites that would exploit the vulnerability to download information and install additional malicious software.
Research however has shown that the latest Adobe Flash version 9.0.124.0 is not vulnerable unless it’s the standalone version on Linux. That means that Windows (and Macintosh) users who have the latest Flash version installed are not vulnerable to the exploit and that Linux users should make sure that they are not running the standalone version of Adobe Flash. Windows users are only vulnerable if they are not running the latest version of Adobe Flash but version 9.0.115.0 of the application.
The latest version of Adobe Flash can be downloaded at the official website. The exploited vulnerability was fixed by Adobe on April, 8 2008 and a detailed report is available here.

Vulnerabilities in latest Flash version
Latest Firefox Web Browser Vulnerable to 0-Day Exploit
Mozilla Checks Flash Version After Firefox Updates
Kaspersky Application Vulnerability Analysis
Mozilla Flash Upgrade Statistics
I believe the latest version for Windows is 9.0.124.0.