yes there is, actually i remember that office 2003 or the earlier version has this option in microsoft word. you can plug in the microphone, activate the feature from microsoft word and start talking and the software will translate to text.
i have tried it in english and it works but u have to train the speech recognition to translate accurately
I had used a software called "Voice pad" which convertes voice in to letters on the screen. You need to speak in to the mic and the speech gets converted to text. I dont know wether it still exists or may be some better software is available for that. Cheers