You have to find out what color profile is your monitor using, then go into photoshop, edit -> color settings, and set the working space color profile to match your monitor. I also set all color management policies to convert to working color. Having setup this, you will see what you get.

If you are printing your own photos, you will also need to set proof color, that is under view -> proof setup. Otherwise, whatever in step 1 is suffice to get you the proper color. Consider buying the spyder2 colorimeter to calibrate your monitor too.

Kind of, its the color profile that is causing the difference. If you use your monitor color profile on adobe, adobe should show the same color as your monitor, and vice versa.