There are two versions of the first encounter between Ben and Mrs Robinson. When Ben turns around after Mrs Robinson locks the door to her daughter's bedroom to make a proposition to him. In one, Ben says "Jesus Christ," and "Oh, my Christ" as he views Mrs Robinson in the nude. In another version the words Ben says have been dubbed to "Jesus God" and Oh, my God".
A change from the theatrical re-release for the 25th anniversary and the video release. In the first Taft Hotel bedroom scene, a nervous Ben asks Mrs. Robinson if she would like "Wood or wire [hanger]?" In the theater, her response was, "wood." Which led to the wonderful pratfall of Ben trying to take the wood one, which wouldn't come off. But it was changed in the 25th anniversary video release and her response was, "Either one would be fine."
SPOILER: When 'The Graduate' was first released in Portugal, the ending was cut; the movie ended with a helpless Ben behind the glass of the church watching Elaine getting married. The reason why the film suffered such a major cut was that the erstwhile military regime had a solid basis in Catholic doctrine and family values, and the censorship was given orders not to let any bad example pass to the youth. So it was decided that the movie should end with the lesson that nothing ever should oppose the church, the state and the parents.