Ad-Aware.exe is Ad-Aware which is by far the greatest (also free) application for fighting adware/spyware. More information can be found here.

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Ad-Aware is designed to provide advanced protection from known Data-mining, aggressive advertising, Parasites, Scumware, selected traditional Trojans, Dialers, Malware, Browser hijackers, and tracking components. With the release of Ad-Aware SE Personal edition, Lavasoft takes the fight against Spyware to the next level.