I am using Windows vista and office 7, I accidentally replaced one excel file with some other file of same name. I don't even have its backup, so is it possible that I could recover that file? Please help if something can be done to recover that file.

Was the file on a network server? IF yes, the file may be shadowed and versioned so that you can recover different versions from the file properties.

Which edition of Windows Vista are you using? If it's Ultimate or Business you may be able to recover the missing file using the Previous Versions feature, providing you also have System Restore enabled.

See: Recover lost or deleted files on Microsoft's site, specifically the section on "Restoring files from previous versions".

There's also some info pertaining to Vista here: Previous versions of files: frequently asked questions

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