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I just added that line to the sources.list and then did apt-get update, and I get that message cant load failed 400,
cant stat http://security.debian.org/ sarge/updates main contrib non-free/packages.gz 400 notfound.
I just did apt-get update, it worked, might be the site was down yesterday. Now should I manually load any of these security updates? Whats the process, this is my first experience with Debian?
You just do apt-get upgrade and all available updates will get installed -- which are none yet, at the moment. Subscribe to debian-security-announce, to get informed on security updates, and verify that if something is updated that applies to you, you indeed get updated.