A cookie is a file that your web browser stores on your computer on the request of a web server. Cookies are necessary for the proper working of most web sites, and are in general not dangerous for your computer's security or your privacy. Unless your web browser is infected by spyware, cookies can only be read and changed by web servers in the same domain as the web server that stored the cookie in the first place. So don't disable cookies.

However, some advertising companies misuse cookies and disallowing some web sites to store cookies is possible. I use a spyware detection program instead, to delete most cookies every few days. I consider that enough to protect my privacy.
 

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