According to the official website, the software can be installed on the following operating systems: Windows® 8, Windows® 7 Home Premium, Professional or Ultimate (32-or 64-bit), Windows® Vista™ (32- or 64-bit), SP1 is required, Windows® XP SP3 (32- or 64-bit).
Yes, you can install it in Widows 7 and later versions released. The version that you an buy it is RecordNow® Music Lab 10 Premier. To purchase it, access the official website at the following address: http://www.roxio.com/enu/products/recordnow/premier/requirements.html