Captcha images are meant not to be "machine readable" you might have to ask your dev team to embed the value in a field where you can use GetROProperty to extract it, something like html id might be ok.
I agree. The whole purpose of Captcha is to present an image that human eyes and brains can understand but that is impossible for machines to understand. I don't think QTP is sophisticated enough to defeat this purpose. However, every time a Captcha image is created, the "solution" value is stored and available to the software - that is how your website is able to compare whatever the user types to a known value to verify that the user typed in the correct "solution". You just need to have your developers share with you their code so that you can know where they are storing the "solution". You have QTP grab that and enter it into the field.
"The last 10% of any software project will take 90% of the budgeted time. The first 90% will take the other 90%"