(May 29th) Oracle released (dev site) Java 7 Update 60 for OS X 10.7.3 and later. (On July 15th, Java 7 Update 65 was released. Java.com Mac D/L was Java 7 U45?)
(On Aug 4, 2014 Oracle posted Java 7 update 67 patch release) If you had previously installed Java 7, you should be able to update via OS X's System Preferences->Java Control panel. If you get an older version at www.java.com/en/download/ (I did on a test D/L tonight), here's Oracle's dev page with Java SE Runtime Environment 7 Downloads. And here's their Java for Mac FAQ page. (Oracle's Developer site has Java v8. As of 7/15/2014 the latest there is Java 8 Update 11.) Java updates typically have important security patches but can break some software, so you may want to check with the dev/vendor of any java based software you depend on before updating and check for user feedback if they have a user forum. (Apple's OS X forums may have some posts but better would be forums for any java software you use. Oracle also has Java Developer forums.) And of course always have a Backup before updating.