I know this is a Python question but...
On Windows you should use VBScript (VBA Macros) and OLE to programmically access Word.
Examples | How-tos | Automating Word using OLE
On MacOSX you use VBA for older versions and AppleScript for Office 2008.
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With VBA you have a choice of either modifying the document in-place or performing an automated "Save As" to get the data in a more easily handled format (though be warned its HTML export is abysmal).
I strongly recommend staying away from third-party libraries/products for this, even if you dislike vbscript. The format is far too complex, undocumented and inconsistent for accurate external handling. StarOffice/OpenOffice is proof of that. They've been trying for years and still haven't got accurate .doc parsing, let alone .docx. Yes it works in general but you run an unquantifiable risk of mangling documents once you start trying to programmically modify them outside of Word. You should be able to call VBscript from Python using os.system. I think the interpreter is wscript.exe but don't hold me to that. This may work though:
os.system('start script.vb')