Mdm.exe is a file, which is normally associated with the Microsoft system. It is a process, which belongs to the Microsoft Windows process debugging system and it is also registered as Machine Debug Manager. This program allows the user to debug errors, which are normally caused due to scripts running in Internet Explorer. It therefore starts whenever Internet Explorer (version 4.0 and above) begins.
The program is not an essential application and can be turned off if not required. Hence, it is a safe application and is not that harmful. However, if the mdm.exe file is located in the folder C:\Windows\System32, it could possibly be a virus, spyware, Trojan or a worm. Thus to determine whether the mdm.exe which is running is the legitimate software or a harmful one, it is important to find out which folder it is running from.
It is recommended that you still run a antivirus and antispyware scan just to be on the safe side, as most of these software can do the job for you of searching and hunting down the harmful version of mdm.exe. The clear cut signs of the harmful type are that if popups appear when you are utilizing Internet Explorer or if your CPU usage by the mdm.exe is very high at most times. If this occurs, then you must look into the C:\Windows\System32 directory, disable and delete the file.