I have noticed errors being reported in the Event Log for a product called Sentinel HASP Licence Management System. The program is hasplms and resides in System32 as a service. The trouble is, I don't know which program it's supposed to be protecting. The registry provides no clues. The message is that it failed to start promptly.

Anyone know how to find the software affected, besides disabling the service and waiting to see what doesn't work?

Well, if you want some information about SH, go to the source: http://www.safenet-inc.com/
I don't know what app you are using that utilizes this bit of (in my opinion) malware, but you could try removing it from your system (add/remove software) and see what breaks...