The best way is probably to create a method in your application controller and declare it a helper method. Then you can call that method in application.html.erb. For example if you want to be able to use the current user throughout your application you'd do something like this:
class ApplicationController
helper_method :current_user
def current_user
@current_user ||= User.find(session[:user_id])
end
end
Then in application.html.erb you can do the following:
Hello <%= current_user.name %>
It's also possible to use before_filter like to other answers suggest, but in this solution the database only gets hit when it's necessary. With before_filter it always gets hit.