How to Lookup Huge data between two workbooks

[earthworm]

I have Huge data . One workbook contains data of 7,00,000 and I want to check whether other sheet containing 34,000 Data are present in workbook of 700 k . When i m applying vlookup , excel is taking huge time to calculate . Between each calculation like example 1% and 2 % excel is taking approx 25 Seconds to go to 2% and so on . This means I will have to wait approx 45 Minutes in order for excel calculation to reach 100 % . During that period I also cannot work in other excel file , nor have to make any keystroke to interrupt the existing calculation , otherwise it will recalculate again . I tried following techniques

1) I sorted Data in both workbook
2) I tried vlookup to find the record
3) I tried match function
4) I tired to name the range in workbook containing 700k records.

All the above technique failed . Please advice the best solution

I heard that access can handle such huge amount of data . Is there a way through which i can save both workbook in access format and then open these data in access and then apply lookup / match type formula to reach my goal in no time .

Please advice and also post the tutorial . I will be obliged.