Where does the current Internet Explorer flaw allow hackers to access?

In the news they've been saying 'passwords, personal details etc.' can be stolen...but where? Where in my computer could a hacker using the current Internet Explorer flaw look to find passwords or details, or anything else for that matter?

What is a VPN?

VPN is (Virtual Private Network) were first used by companies to enable their employees to securely access internal systems such as email remotely (e.g. from home or while on business trips). Today they are increasingly being used for personal use by individuals to protect their privacy while online in public places (e.g. when using the wi-fi connection in a cafe) or in a country where the internet is censored / blocked (e.g. China, Saudi Arabia…).