sed can take whatever follows the "s" as the separator. Since you are working with URL it is a good practice to use a different delimiter other than / to not confuse sed when your substitution ends and replacement begins.
However, having said that you can definitely use / if you wish too. You just need to escape the literal /.
So, you can either do:
sed 's/http:\/\/www.find.com\/page/http:\/\/www.replace.com\/page/g' input_file
or use a different delimiter to avoid making your cryptic sed more cryptic.
sed 's#http://www.find.com/page#http://www.replace.com/page#g' input_file