You need to acquire a new version compatible with your operating system. On the official web page you can find PrintMaster v6 Platinum which is compatible with Windows 7 on both 32 an 64-bit architecture.
If you don't want to purchase a new version, you can try to download and install Windows XP Mode and install the application in this environment. Windows XP Mode makes it easy to install and run many applications that run on Windows XP directly on a computer that runs Windows 7.