Here is one approach.
Load the initial page. Use an xpath expression to find the two frame elements. The, for each of them, get its url. Now you can use driver.get again (for each url) to load the page corresponding to the frame, and then find the p element that you want.
>>> from selenium import webdriver
>>> driver = webdriver.Chrome()
>>> driver.get('https://www.quackit.com/html/tutorial/frame_example_frameset_1.html')
>>> for frame in driver.find_elements_by_xpath('.//frame'):
... frame.get_attribute('src')
...
'https://www.quackit.com/html/tutorial/frame_example_left.html'
'https://www.quackit.com/html/tutorial/frame_example_right.html'
Any questions, please ask. If this does what you want, please mark the answer 'accepted' since that's the protocol on SO.
frameelements. That's why I felt justified in altering the text in your question slightly.framesetis common WebElement and should be handled appropriatelly