Fist rule out hardware by logging into another account and seeing if it works. If it does not then download the widget called "Option/Alt" at:
http://www.versiontracker.com/dyn/moreinfo/macosx/29263&vid=288618 It will show if the key is being recognized. It will present a keyboard display that you can see the I key blacken if it is recognized. You can also click this virtual keyboard to see if you can type a key that way or if there is something in software not allowing a particular letter to be typed.