Here is another approach; it is more involved than user26857's, but may also help make things clearer (or maybe not; I've left several details to check):
The ring $R$ is reduced (i.e. has trivial nil-radical) and is Noetherian, so has finitely many minimal prime ideals, say $\mathfrak p_1, \dots, \mathfrak p_n$. Combining these facts, we find that $\mathfrak p_1 \cap \cdots \cap \mathfrak p_n = 0.$
From this, we find that the natural (diagonal) map
$$R \hookrightarrow R/\mathfrak p_1 \times \cdots \times R/\mathfrak p_n$$
is an injection.
Now in general this won't be an isomorphism (consider the case $R = \mathbb C[x,y]/(xy)$).
However, after we invert $S$, it does become an isomorphism: i.e. we get an induced isomorphism
$$ S^{-1} R \buildrel \cong \over \longrightarrow S^{-1} R/ \mathfrak p_1 (S^{-1} R) \times \cdots \times
S^{-1} R/\mathfrak p_n (S^{-1} R) .$$
To check this, we use the fact that localizing is an exact functor. First of all,
this exactness implies that after inverting $S$, we continue to have an injection. Secondly,
if we consider the cokernel of the original injection, you can check that it is annihilated by an element of $S$, so that localizing it at $S$ gives zero, and so after localizing at $S$, our injection in fact becomes an isomorphism.
(Here is an element of $S$ which annihilates the cokernel: for each $i$,
choose an element $x_i$ lying $\mathfrak p_i,$ but none of the $\mathfrak p_j$
for $j \neq i$ --- such an element exists by the same prime advoidance lemma used by user26857 --- and let $x = \sum_{i = 1}^n \prod_{j \neq i} x_j;$ then $x \in S$, and $x$ annihilates the cokernel of the original injection.)
Now one can check that each of the rings $S^{-1}R/\mathfrak p_i (S^{-1} R)$
is a field. One way to do this is as follows: first note that $S \cap \mathfrak p_i = \emptyset$, so that $S^{-1} R/\mathfrak p_i (S^{-1} \mathfrak R)$ embeds naturally into the fraction field of $R/\mathfrak p_i$. The key point is that this embedding is actually an isomorphism, so that $(S^{-1} R)/\mathfrak p_i (S^{-1} R)$ is naturally identified with the fraction field of $R/\mathfrak p_i$. To show
this, you have to show that if $y \in R \setminus \mathfrak p_i,$ then you may
find an element $y' \in S$ such that $y \equiv y' \bmod \mathfrak p_i$; the proof
of this is similar to the construction of the element $x$ above.
In conclusion, $S^{-1} R$ is isomorphic to a finite product of fields; in fact, it is canonically isomorphic to the product of the fraction fields of the quotients $R/\mathfrak p$ as $\mathfrak p$ runs over the minimal prime ideals of $R$.
The structure of this argument becomes somewhat clearer if you think in geometric terms: the key point is that the Spec $R/\mathfrak p_i$ are the irreducible components of Spec $R/\mathfrak p$, and inverting $S$ is the same as localizing at the generic points of each of these components. But this more geometric way of thinking , while very natural and powerful, takes practice to learn.