With any large software project, a bug tracker or some sort of easily accessible database with information and bug reports is very common, and needed – whether public or private. It isn't until just recently, however, that Microsoft has created one for Internet Explorer. At least, from a public standpoint. Microsoft now has a public bug tracker that anyone can submit queries to regarding IE7.
"After much discussion in the team, we've decided that people are right and that we should have a public way for people to give us feedback or make product suggestions," he wrote.
All it requires is a passport account. On an interesting note, Microsoft requests that no security exploits be reported there. It is also IE7 only – no legacy bug reports for IE6 or other earlier versions. You can find out more at Microsoft's site.