Windows Usage Issues

I just started using, I just attempted to start using Win8 (a drastic measure is starting to look good). I have a couple of questions:
1. The HP PC came loaded with Win8. Can I wipe the hard drive and load Win7 and start using the box?
2. Will Office 2007 run on a Win8 PC?

Obviously these are simple questions with complex answers. So any guidance in helping me take a firm position, Win8 or Win7, and getting on with my computer life would make my wife a happy camper. I am 72 and thought I was done with this kind of frustration when I retired from IBM.

Thanks guys
Kevin