The code on the bottom of your computer is for a particular VERSION of Windows. It should say on the sticker whether it's for Vista Ultimate, or Windows XP Pro, or whatever. And, it is for the OEM version of the operating system -- that is, the one that is supplied with your HP. In order to use that code, you would need to get the HP version of the disc for the particular version of Windows that's listed on the sticker. You should be able to order that disc fairly inexpensively from HP. The code will not work with a different version of WIndows.
If all you want to do is uninstall some of the software that's on the machine, it's probably easier to uninstall that particular software than to start fresh.