Javascript enables websites to do things locally within your web browser (Internet Explorer, Firefox, Safari, etc.) This works by downloading mini-programs with the website content, which then run in a secure environment within the web browser on your computer.
The main benefit is that Javascript can give you a much richer experience visiting websites that are designed to interact with you, that are more computer “applications” in nature or simply use Javascript to improve useability. Google Maps is one of many, many examples.
The main concern is how secure is this “secure” environment. This same question arises over most computing environments, including Windows, and the answer is the same: work continues constantly to identify and plug security risks. Currently we regard Javascript as a good thing and a key enabler to making the web even more useful.
Given the risk/benefit balance today, we recommend that you enable Javascript (or Jscript) within your web browser.