If you have an unlocked iphone and you rely on this then this new jailbreak is not for you. You need to stay away from the Redsn0w jailbreak and wait for the updated version of Sn0wbreeze and Pwnage tool otherwise you will end up relocking your iPhone 4.
iOS 4.3.2 was jailbroken just a couple of weeks ago using Pwnage tool bundles on Mac but this jailbreak was limited to a tethered boot. With this latest version of Redsn0w 0.9.6rc14 you can jailbreak your iPhone, iPad and iPod touch with a fully untethered jailbreak using iOS 4.3.2 firmware.
All you have to do for an untethered jailbreak on iOS 4.3.2 using Redsn0w 0.9.6rc14 is to download the version you require, either Windows or Mac and then follow the steps as directed. There are plenty of great jailbreak tutorials available and when you follow these you will be able to jailbreak iPhone 4, 3GS, iPod Touch 4G/3G and the iPad. This jailbreak is available for all idevices running the latest iOS 4.3.2 firmware.
