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Office Web Apps:

With Office Web Apps, you can create and edit Microsoft Word, Excel, PowerPoint, and OneNote documents online -- even if you don't have Office installed on your computer. With Office Web Apps, you can work on your Microsoft Office files virtually anywhere there's an Internet connection.

SkyDrive:

Windows Live SkyDrive provides enough free storage for thousands of documents/photos and can store Microsoft Office Web Apps that you can access online. Upload and share documents and photos with the people you choose -- groups of people or your entire social network. Share files in email, or send links to the files and photos you store online.

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