There's probably a program that will do it for you, or you can make a batch file to do it.
One way to create a batch file:
1. Download
this utility (the shell extension link), which adds "Copy file path" and "Copy file name" options to your right-click menu in Windows Explorer.
2. Highlight all files/folders you want to batch rename, right-click and select "Copy file path".
3. Paste these into the second column of a spreadsheet application.
4. Next to each of these entries, write "rename" in the first column of the spreadsheet.
5. In the third column, write the new file/folder name, including its file path.
6. Copy all three columns into a text editor.
7. Use find and replace to replace the tab characters with spaces.
8. Save this text file as [something].bat
9. Double click on [something].bat in Windows Explorer
10. Voila.
Note that if your file/folder names contain spaces you will have to wrap them in "quotes" otherwise the batch file will not work.
If you don't want to download the right-click shell extension, you can use the command "dir > [filename].txt" in a command window to create a list of the directory structure, but you will then have to remove the time/datestamp preceding each file/folder name.