To access the Microsoft Equation Editor in Word on Windows XP, users should modify their Microsoft Office installation by selecting "Add or Remove Features" and ensuring that the Equation Editor is set to "Run from my computer." After updating, the toolbar should become available. Additionally, users seeking to format equation captions differently from figure captions in Word 2007 can explore options for side captions. The discussion highlights the challenges of finding and using built-in mathematical tools in Word, especially for those accustomed to MathType or LaTeX. Proper installation and formatting techniques can enhance the user experience with mathematical equations in Word.