"Deleting" all the data only "marks" the space on the drive as writable free space for the system. If you have ever used CCleaner (free) - it actually has a drive wiper built in. The process will take some time depending on how large your drive is and how securely you want to "wipe" it. It ""wipes" the drive basically by writing a bunch of random 1's and 0's into all of the free space sectors of the drive.
You can get CCleaner here for free...https://www.piriform.com/ccleaner/download/standard
Select tools from the left side of the application>select the drive wiper option>select free space only>click "wipe"
A) So....In direct answer to your question...No - you'll need to use a program like this to delete all the sensitive data while keeping windows 7 installed. You could however, delete your sensitive data and then fill the drive with useless data, then remove it and repeat. Basically that's what a drive wiper will do automatically for you anyway.
B) You don't need your Windows install disk as long as you have your product key (which is probably on the Microsoft sticker on the bottom of that laptop)
C) In case you want to re-install, get your Windows ISO here...http://www.microsoft.com/en-us/software-download
Use one of the following tools to create a bootable USB installation disk
https://www.microsoft.com/en-us/download/windows-usb-dvd-download-tool
http://www.isotousb.com/ <---I like this one