Computer manufacturers often install a trial version of Microsoft Office. If you are getting a prompt to type in a Product Key when opening a Microsoft Office program, it is likely the trial period is over and you'll need to purchase a license (product key) for Microsoft Office.
The product key affixed to your computer is for Windows Vista (the operating system) and not for Microsoft Office. Please review the following:
How to determine whether you have a trial edition of a 2007 Office suite or program installed:
http://support.microsoft.com/kb/927920/en-us
How to convert a trial version of a 2007 Office suite or program to a full retail perpetual license version:
http://support.microsoft.com/kb/927756/en-us
How to buy the 2007 Microsoft Office suites:
http://office.microsoft.com/en-us/suites/FX101678741033.aspx?ofcresset=1
How to Buy Office Home and Student 2007 Edition:
http://office.microsoft.com/en-us/suites/FX101674081033.aspx
Carey Frisch