I have Windows 7 and I don't think this applies because I cannot find Settings in the Start menu to start with.
The Snipping Tool has been included with Windows since their Vista OS, including Windows 7. You can find it clicking on Start, then All Programs, then Accessories, then go down the list. See link below:
https://techjourney.net/install-or-enable-snipping-tool-in-windows-7-vista/
Aside from the above, while checking on my Windows 7 PC the keyboard combination (Windows, Shift,
s) also seems to work by pasting the snip to One Note, which loads a good few seconds after your keystrokes, just wait a bit. In the box that appears there are options to put your snip in whatever folder you desire
or, to copy it to your clipboard.
No option for storing more than on one clipboard entry, although I think you may find third-party (potentially risky) programs/apps to work just like the built-in Windows 10 feature.