stopwatch timer for timestamping in microsoft word

I've been looking for a timer for microsoft word that can:
1. show elapsed time since I started the timer
2. allow me to take notes in word while it is ruing
3. allow me to press a hotkey to insert the current elapsed time into the word document

Is there a way to do this in microsoft word or another word processing program?

[extra details]
For my job I take notes of interviews. Later I go through the video recording of the interview and try to find in the video where the quotes are I noted down. This would be a lot easier if I could quickly place a timestamp at the time I'm taking the notes.

e.g.
(I start the timer)
"Interviewee said this"
(I press a hotkey)
[3:45]
"Interviewee said that"
(I press a hotkey)
[4:25]

Thanks for any ideas