When you cut and paste, what you cut is stored in the windows “clipboard”. You can cut and paste (or copy and paste) using the Edit -> Cut (or Edit -> Copy) and Edit -> Paste menu options in nearly all programs. Or you can cut (or copy) and paste using the Ctrl-X (or Ctrl-C) and Ctrl-V keyboard shortcuts. As you probably know, “cut” deletes the old one, whereas “copy” preserves the old one.
Either way, this “clipboard” which stores your cut (or copy) is normally invisible.
On Windows XP there was a way to view it. You had to run the program
clipbrd.exe) and because it was in the
C:\Windows\system32 folder you could run this by using Start->Run and typing clipbrd into the box.
Windows Vista and Windows 7 do not contain the clipbrd program file.
But, you can copy the file from a Windows XP system and just place it in your Windows Vista or Windows 7
C:\Windows\system32 folder and it should just work.