Question Need to upgrade Ram and processor for Toshibha Satellite L755 Laptop

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before clean install, can i backup current windows 8.1 os using acronis software
Sure. If you want to.
Do you intend to ever go back to 32bit windows 8.1 ?
i have one doubt, will it take product key automatically
If your laptop was sold with windows 8 preinstalled, then windows key should be written into laptop bios.
During install, if should just take windows key from bios and not even ask for it.

Or you can extract current key from your windows with appropriate software.
Belarc advisor could do that.
I think, there was even a vbs script, that could extract windows key from OS.