It was possible in Microsoft Office 2003 - no doubt it will also work in later versions.
Convert youur Scanned document into .TIFF format
Open that image 'Microsoft Office Document Imaging'
Go to the Tool menu then the option 'Send Text To Word'
or you may use the option 'Recongnize Text Using OCR'
The text of your original scanned document will now be converted into an Editable Word file.
Note : it will not work on ur hand written documents