How to check my RAM configuration (Windows 7)?

If you don't mind using the command line, WMI can do this and is native with Windows XP and newer.

Simply run wmic MEMORYCHIP get BankLabel,DeviceLocator,Capacity,Tag

>wmic MEMORYCHIP get BankLabel,DeviceLocator,Capacity,Tag
BankLabel  Capacity    DeviceLocator            Tag
BANK 0     2147483648  Bottom - Slot 1 (top)    Physical Memory 0
BANK 1     4294967296  Bottom - Slot 2 (under)  Physical Memory 1

(DeviceLocator will likely give you DIMM numbers on a desktop machine - the top/under slots are because I'm on a laptop. Both BankLabel and DeviceLocator formats may vary by machine.)

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There is a lot more data available, but it doesn't display well in the limited columns of a command prompt. You can export it all to a text file for easier viewing (don't forget to turn off word wrap):

>wmic MEMORYCHIP get >data.txt
>start data.txt

And you can use those extra columns to customise the first command to give you, e.g., the manufacturer name, product number and serial number.

Yes, there a way to do this since CPU-Z can display that information. If if one program can do that then so can others.

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^{Disclaimer: I am in no way affiliated with the CPUID website or the CPU-Z program.}

Edit:

For linux: DMIdecode
For windows: wmic MemoryChip` as already answered by Bob.

Go to http://www.crucial.com, select the middle tab "system scanner" and run the plug-in. It will tell you the complete description of your memory configuration and the possible upgrades as well. It also give you other details related your motherboard, pc specific model, etc.