You will need to have a COM port on your machine whether laptop or desktop in order to connect your console cable first. You can download PuTTy from How to use putty as Hyperterminal PuTTy is an awesome FREE and opensource emulator that has been around for 16 years. Why is it not included with Windows 7 is a question for Microsoft and they have the answer HERE. By the end, you will know how to set one up and which one to use.
There are several alternatives to this which I am going to discuss in this guide. Unfortunately, Hyperterminal is not included with Windows 7 but you can still control your serial devices with alternate methods.