What can be done with 50 yr old 8 MM film?

My seventy year old neighbor just found some reels from a very long time ago and would love to see them. They are of his childhood and contain footage of his parents and many other loved ones who have long since ped. Is there a way to get this old footage transferred onto something that can be viewed today? He thinks that because I have a computer and can find his old music and do a few other things I can work magic, but this is way WAY beyond my knowledge and capabilities. We love this old guy to pieces and would dearly love to make this happen for him, but is it even possible? We live in NM if that helps in any way. Any helpful info in this matter would be greatly appreciated. Thank You ahead of time.