Creating wifi hotspot in Win7 or Win8

You don't need connectify or any other software for it. Also, you can save yourself from that 90 minutes counter in connectify. 

All you need to do is run the following two commands in cmd - 

Open cmd with Run as Administrator.

1) netsh wlan set hostednetwork mode=allow ssid=wifiname key=wifipassword

2) netsh wlan start hostednetwork

Best solution - Make a batch file of it and just run the file every time when you start the pc. 

To make a batch file -

First write the commands on a notepad

Then save it with the extension bat.  e.g. wifi.bat

Your batch file is made and now execute the file with Admin Privileges.

Important - For this to work, your sharing should be on in network properties for   the network/ethernet connection that you want to share through your   wifi:

Go to Open Network and Sharing Centre ->Change Adapter Settings(On left panel)

Your wifi hotspot would be Microsoft Hosted Network Virtual Adaptor in the Network Connections.

Go to the properties of the LAN/ethernet/WiFi connection and make the changes accordingly.

Your wifi hotspot would be ready. :)

To stop the wifi hotspot - 
Write the following in command prompt : netsh wlan stop hostednetwork.

For those having trouble with creating hotspot on their dongles:
If you have tried the above steps and its still not working for you then you will have to unlock your dongle. Unlocking simply means downloading any other third party dialer which will work on all network operators.

Just   change the file format [(mp3|wma|aac|flac) part] to your required   format and you will get a search result of sites containing direct   download links to your search query. Enjoy!