The answer is a guarded "Yes" ... but with the proviso that you know how to correctly change a lot of its internal settings (I used to use Xteq X-Setup 6.3, available here: http://www.tucows.com/preview/219636/Xteq-X-Setup ), use the right Web browser with the right plug-ins, use a software firewall (I used to use ZoneAlarm), use SpywareBlaster, SUPERAntiSpyware, Spybot Search & Destroy, and a decent anti-virus program.
You also need to know how to behave online. By which I mean: you need to stay away from certain Web sites; you need to learn not to click everything that pops up; you need to learn to use the alternative keypress for closing a window [Alt+F4] and when to use it [rather than clicking the X in the upper right-hand corner]; you need to be wily [more wily than black-hat and gray-hat hackers, because many, many exploits depend on the naivety/gullibility/stupidity/innocence of the average Windows® user].
Not that I would waste my time with it (these days), but I could set up Windows® XP Professional (32-bit) on my laptop, and lock it down so that I would NEVER FRET about malware. But that's just because I know what to do (and what NOT TO DO). You could do the same, if you were so inclined.
These days, however, I use a GNU/Linux-based OS (and take different precautions than what I would use with Microsoft Windows®). I'm distrustful, and I don't believe that GNU/Linux is malware-proof on its own. Like any good computer user, I take precautions regardless which OS I'm using ... even "Linux".
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On the other hand, the average computer user in the United States of America is a computing dolt! That is why malware is so successful on Microsoft Windows®. That same issue results in successful malware attacks on GNU/Linux-based computers. And, that same issue results in successful malware attacks on computers that use Mac OS X. The more morons who use an OS, the more frequently that OS will see successful malware exploits.
While GNU/Linux-based OSes are (or have been) less "unsecure" by default than Microsoft Windows®, that wispy veil of protection is easily rendered useless by imbecilic users' stupid computing practices.
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Just for kicks, I installed Windows XP Professional on my laptop. Now I remember why I stopped using Microsoft Windows®. It's useless out-of-box. I had to install the drivers. I had to install protective software that slows it way down. I had to install productivity software. It sucks. I'm going to zero out the HDD and install another OS.