Yes, Windows 7 comes with a Recovery Console. This will take the computer back to the day it was purchased. This is for Vista but it's almost identical to Windows 7
Run the Vista Recovery Console.
1. Eject and remove any discs or memory cards from your computer.
2. Click the "Start" button on the desktop to open the Start menu, click the small arrow icon to the right of the lock icon and select "Restart".
3. Hold the "F8" key on your computer's keyboard as Windows Vista reboots.
4. Highlight and select "Repair your computer" choose your keyboard type and click "Next".
5. Choose your user name, type your password if prompted and click "OK" to access the System Recovery Options menu.
Here's a link that will help.
Run the Vista Recovery Console.
1. Eject and remove any discs or memory cards from your computer.
2. Click the "Start" button on the desktop to open the Start menu, click the small arrow icon to the right of the lock icon and select "Restart".
3. Hold the "F8" key on your computer's keyboard as Windows Vista reboots.
4. Highlight and select "Repair your computer" choose your keyboard type and click "Next".
5. Choose your user name, type your password if prompted and click "OK" to access the System Recovery Options menu.
Here's a link that will help.