A term used to describe an Internet Explorer feature designed to close security holes. A Kill-Bit (also called killbit) is an instruction to the browser to never use a specific piece of ActiveX control software. It's common for Microsoft security bulletins to include Kill-Bits to disable individual ActiveX controls.
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Microsoft explains why killbits are needed Yesterday Microsoft put out an out of band release to deal with a killbit issue that will be discussed today at the Black Hat security conference in Las Vegas.
The Kill-Bit FAQ The Kill-Bit (a.k.a. killbit) is not actually a bit.