A good approach is to have a common base class for all your entities. In this base class, you can have your id property if it is commonly named in all your entities (a common design), your creation and last update date properties.
For the creation date, you simply keep a java.util.Date property. Be sure, to always initialize it with new Date().
For the last update field, you can use a Timestamp property, you need to map it with @Version. With this Annotation the property will get updated automatically by Hibernate. Beware that Hibernate will also apply optimistic locking (it's a good thing).