NEW YORK -- For the third time in four years, the New York Rangers were one game better than the Washington Capitals in a playoff series.

The difference in 2015 was one bounce in an overtime period.

Center Derek Stepan banged home a loose puck with 8:36 remaining in the first overtime to give the Rangers a 2-1 victory in Game 7 of their second-round series against the Capitals on Wednesday night at Madison Square Garden.

Stepan was the right man in the right place, as a blast from the point by defenseman Dan Girardi hit traffic in front of Capitals goaltender Braden Holtby and squirted to the left face-off circle. Stepan was there to snap a wrist shot into a gaping net to send the Rangers to the Eastern Conference final for second straight year and third time since 2012.

"You knew it was going to end like that somehow, either way," Girardi said. "It was going to be a shot on net, quick play, and I'm glad we are on the good end of that one."

The Rangers tied an NHL record by winning their sixth straight Game 7, a streak that dates to 2012 and includes three victories against the Capitals. They are 14-3 when facing elimination over that time and rallied from a 3-1 series deficit in the second round for the second consecutive season.

Goaltender Henrik Lundqvist stopped 35 shots to improve to 6-0 in his past six Game 7s with a .973 save percentage.

"We've been through so many things over the last few years," Lundqvist said. "You learn from it and you can't keep stopping. But it definitely helps that we've been part of so many different things throughout the years and in this situation we are confident in this group and how we play."

After losing Game 6 in Washington, Capitals left winger Alex Ovechkin said his team would win Game 7, and he wasted little time backing up his words.

Ovechkin gave the Capitals a 1-0 lead with 7:10 remaining in the first period, beating Lundqvist with a wrist shot after a gorgeous aerial pass by right winger Marcus Johansson. The Capitals took that 1-0 lead into the intermission, along with a 15-10 edge in shots.

The game turned early in the second period when Capitals defenseman Mike Green took two penalties during the first five minutes, giving the Rangers a pair of power plays.

Center Kevin Hayes converted during the final seconds of the second of the chance to pull the Rangers into a 1-1 tie. Defenseman Brooks Orpik failed to clear the zone, which allowed left winger J.T. Miller to hit Hayes with a back-door pass that left Holtby little chance to make a save.

The teams played a more conservative style in the third period, almost quietly agreeing to take the game to overtime. That changed in overtime, when the Capitals' aggressive nature nearly resulted in the winning goal, but Lundqvist stopped all eight shots he faced in overtime.

After consecutive icings, Stepan made the Capitals pay and sent his team to a series with the Tampa Bay Lightning, which will begin Saturday at Madison Square Garden.

"It was pretty much a hard-fought series," Stepan said. "Both teams, back and forth, momentum swings. For most of overtime, they have the puck and we just find a way to stick with it. (Lundqvist) made some big saves and we were able to get a fortunate bounce."

Not only did the Capitals hold a 3-1 lead in the series, they were 1:41 away from advancing to their first conference finals since 1998 in Game 5, but left winger Chris Kreider sent the game to overtime and defenseman Ryan McDonagh won it for the Rangers.

"I don't think that makes it any more frustrating for us," Holtby said. "Obviously, we had an opportunity to close it out, but all the games were close. We fought hard and it was a great series, one that could have easily gone our way.

"It just didn't."

"The biggest thing for us is everyone played the right way," Capitals center Nicklas Backstrom said. "Everyone blocked shots. Everyone worked hard. That's what you need to do. It's disappointing, because you want to go further."

NOTES: Capitals C Eric Fehr returned to the lineup after missing 10 games with an upper-body injury. He took the spot of LW Curtis Glencross on a fourth line that featured Brooks Laich at left wing instead of his usual center position. ... Capitals scratches included C Michael Latta and D Nate Schmidt. ... Rangers RW Mats Zuccarello missed his seventh straight game with a likely concussion. ... Rangers D Dan Boyle left the game late in the third period and did not return after taking a big hit from Capitals D Brooks Orpik.