Depending on your OS, you should choose the corresponding HWiNFO version. Yes, HWiNFO is compatible with Windows 7. If you're looking to control CPU and GPU fan speeds you should take a look at SpeedFan or FanControl, which are specialized tools, both are free and have been tested extensively. HWiNFO was primarily designed to show system information.
However, you must use this feature carefully. Technically, yes, HWiNFO shows you real-time data on hardware components and allows you to manually control fan speeds. The information is split in 3 windows: a system summary, a full report, and active sensor readings. Yes, HWiNFO data is reliable and accurate and will inform you about everything it possibly can about your computer. Is HWiNFO CPU and GPU temperature accurate? HWiNFO is an all-in-one solution for hardware analysis and monitoring supporting a broad range of OSes (DOS, Microsoft Windows 95 - Windows 11, WinPE) and platforms (i8086 - Xeon Platinum).