Jennifer, It would help to know more precisely what disk you have.Is this an UFT install disk, labelled with a version identification? Or is it a backup of the install disk? Or is it a backup of an UFT data base?
UFT will not run natively on a 64 bit operating system such as almost all new Windows PC are shipped with. To run UFT on such a machine, you need a Windows XP emulator, which can be installed on your 64 bit machine. However, to do that you need the professional version of Windows, which can be installed as an extra cost upgrade to the Windows Home Premium that is normally delivered with new computers. You then need to download a Virtual PC program and an XP Mode program, both available free from Microsoft. It may be best to get a techie to do this install.
XP Mode runs as a window under Windows 64 bit and pretends to be the XP operating system (it's actually the same code, I think). It is not as smooth as running on a real 32 bit operating system, but it does work quite well.
If you have your father's UFT data backup file, you could also import it into The Master Genealogist (TMG). The import brings in almost all the UFT data. Of course, TMG is an added cost, but I find it very useful for a number of tasks, although I still maintain my data in UFT. There are a number of useful add-on programs for TMG, some at additional cost. And of course there is a learning curve to use TMG.