This is the correct answer for 99% of users. PuTTY (the same tool used for SSH) has a robust serial terminal mode. To use it in Windows 7:
Whether you are a network engineer managing legacy hardware or a hobbyist working with microcontrollers, here is everything you need to know about getting HyperTerminal-like functionality on Windows 7. Is HyperTerminal Available on Windows 7? windows 7 hyperterminal
Originally licensed by Microsoft from Hilgraeve, HyperTerminal was a staple of Windows 95 through Windows XP. It was a lightweight telecommunications program and terminal emulator. Its primary functions were twofold: first, to dial into remote computers via a modem (the classic "AT command" era), and second—more importantly for professionals—to communicate with devices over a serial (RS-232) port. For years, if you needed to configure a Cisco switch, a GPS receiver, or an industrial robot via a serial cable, you opened HyperTerminal. This is the correct answer for 99% of users