"The connection to www.google.com is encrypted using RC4_128 with SHA1 for message authentication and ECDHE_RSA as the key exchange mechanism". This is on my google search bar. Is that o.k.?
What this means is that when you send a search query to Google, the query and the response will travel between your machine and Google's server under the protection of SSL/TLS, the well-known security protocol which is the basis for HTTPS (you know, the URL which result in that padlock icon to appear). In this particular case, the cipher suite will be
TLS_ECDHE_RSA_WITH_RC4_128_SHA, as specified in this standard.
That's fine. Don't worry about it. If some evil people are interested in knowing what terms you search for, and try to spy on the network between your house and Google's machines, then they won't be able to get useful data. (Of course, Google itself will know everything, since SSL is only for transport, between two machines; but that's Google. Resistance to Google is futile.)