Hi
Firstly, Internet Explorer will only install on Windows 98 or higher. It will not install on a system running Windows 95. Check out Microsoft's site, and try to upgrade an earlier version of IE and you will receive a message which says you must have Windows 98 or higher.
Secondly, to update your copy of Windows 95: start up Internet Explorer, click on Tools, then select Windows Update. You will be connected to Microsoft's Windows Update site, and your system will be checked to see which updates you have installed (no information is transmitted to Microsoft). You will then be presented with a list of critical and non-critical updates, both for your system and for Internet Explorer. Although Microsoft has indeed stopped support for Windows 95, you can still update your system automatically using this site.
There you go