This stuff isn't particularly special or notable, except that it's gotten a whole lot of press, and a whole lot of coverage in the blogs and echo chambers.
The basic security practices are the same as they have been.
The Java patch is offered for download, and plugs that particular hole.
This patch does not remove the malware, if it's already been installed. As for detecting existing infestations of the malware, see this thread and this thread for some details and links to discussions.
If you have Adobe Flash Player installed, make sure that's updated to current, too.
Review your security practices, and your knowledge of what sorts of web pages and downloads and links (not) to open. Check your backups. Etc.