Instructions to apply a license for Password Expiration Notifier or Inactive User tracker provided by sales tells you to go to Settings -> Licenses in the Management Console. However, the licenses node is not there.
If the only product(s) you use are one or both of the above then most likely you are running an old version of the console.
It is not necessary to upgrade your console to get this node as no functionality of a newer console is utilized by these two products. The alternative method of adding these licenses is to:
1) Open the Management Console
2) Expand the proper Managed Object you have created for these two products.
3) Right click the Password Expiration Notifier or Inactive User Tracker nodes and go to About
4) From here you will click the Change License button and enter your license accordingly using the copy/paste method to ensure no errors in entering.