How do I get from V7 to V8?

I don't understand the above. I am not asking about browsers, Just how I can replace version 7 with version 8. But Safari is the browser used on the machine in question. I believe I can download 1Password 8 from the App Store, but I would want to migrate the contents of 7 to 8 and I don't want to mess things up. And I see that I can use the download for free… for a while. I would like it to be part of my existing subscription (Account?) — without an extra cost.
I am not an expert user. I use only the password remembering ability of 1Password. The rest remains a mystery to me.
So sometimes I need help getting from point A to point B.
Thanks

@nivram

1Password 8 requires Catalina so you should be good to go as far as specs go. 1Password 8 for Mac

⚙️ System requirements for 1Password

If you use Safari, you'll likely want to install 1Password in Safari on your Mac for use with 1Password 8. Other browser versions are available too. Please open it at least once and follow the directions being sure to allow it access to all sites. We need that permission to perform the following on your behalf.

• The ability to scan (read) the page HTML to determine if it’s fillable. This also tells us where/when to inject the inline menu.

• The ability to autofill (write) to the site. While performing an autofill, it effectively changes the HTML. When you submit the autofill, it will allow you to authenticate it properly.

There is no need to add 1Password for Safari to your login items or Dock. It only needs to be opened once for the initial configuration. From then on it can live silently in your Applications folder.

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As to the data, when you install 1Password 8 it will offer to import data from standalone vaults, if one is present on the device. If you add your account to the app you're essentially licensing it and there would be no trial period. With a membership you can use 1Password 8 on all of your devices.