Your answer will depend on which "Linux live distro" you're using, and on which hardware. Recent versions of Ubuntu and Fedora will have OpenSSL 1.0.1+.
As of Fedora 18, rngd is started by default. If it finds a TPM or if the RDRAND and AES-NI* instructions are available on your Ivy Bridge or later CPU, it will use these as entropy sources to feed to the kernel, keeping the entropy pool topped off. So... if you're using Fedora 18 on a system with a TPM or Ivy Bridge processor, you probably don't have to worry about it. Otherwise... seek ye the source code
If you want more help than that... we need to know which distro you're using so we can look over the specific source without worrying about "that might have changed in a later version, or was changed in a patch by X distro".
*Note, I mention the requirement of AES-NI with RDRAND because there are several documented cases where manufacturers have disabled AES-NI in BIOS, which causes rngd to fail at startup if there is no TPM or other hardware RNG.
As of Fedora 18, rngd is started by default. If it finds a TPM or if the RDRAND and AES-NI* instructions are available on your Ivy Bridge or later CPU, it will use these as entropy sources to feed to the kernel, keeping the entropy pool topped off. So... if you're using Fedora 18 on a system with a TPM or Ivy Bridge processor, you probably don't have to worry about it. Otherwise... seek ye the source code
If you want more help than that... we need to know which distro you're using so we can look over the specific source without worrying about "that might have changed in a later version, or was changed in a patch by X distro".
*Note, I mention the requirement of AES-NI with RDRAND because there are several documented cases where manufacturers have disabled AES-NI in BIOS, which causes rngd to fail at startup if there is no TPM or other hardware RNG.