Buy a new hard drive and, as others have mentioned already, if possible make a backup of your data ASAP.
A seven year old computer has SATA ports for hard drives, so connecting a new hard disk shouldn't be a problem.
If you want to buy a new computer later, that's always an option and you can then put your new hard drive in that computer.

I'm in a similar situation, but I don't want to buy an eide drive for my relic pc.
I have all data saved on external drives, however.

I'm waiting for Skylake+Windows10 this year, hoping they will be good.

Making sure that the data is safe is a lot more important.

Several years ago (late 2008, I think, I think I was on GOG at the time), both my laptop and my tower were unusable for a couple months and I didn't have money to fix them. The only working machine I had was introduced in 1992 (and still being sold in stores as of at least 1994, when I got mine for either birthday or christmas) - a Macintosh Performa 475 that had been upgraded to 20 MB RAM, a 250 MB hard drive, and was running Mac OS 8.1. It wasn't overly pleasant browsing the web with the 68k version of iCab 2.9.9, but it was the least worthless browser available (yeah, Explorer 4 and Netscape 4 for 68k Mac were generally worse, not to mention Cyberdog), but at least it worked to some extent.

Losing important data is a lot worse than having an old machine that cannot handle the latest technologies.

If you have enough money buy a new one. However with the increasing $ value computer prices gone up pretty high.

If you are happy with your computers performance, just backup your important data like pictures, music and Browser Favorites and keep using it. My laptop is giving this harddisk error for the last 3 years and i didnt have any problem so far.

Thing is, hard drives from at least the last ten years have a buffer to account for broken sectors over time. If the hard drive is starting to report errors, that buffer has already overflown. While the drive tried to avoid broken sectors, that only works as long as you have sufficiently little stored on the drive (that is, until it's too full). I would personally never trust a drive that reports errors, and instead replace it as soon as humanly possible. While it may still seem to work well enough, you don't know until it's too late if your data is broken.

Computer. Hard Drive will do you little good... Now you can get solid rigs for good deals!

Thanks all.

Yeah, I've got critical things backed up, so no worries there. I don't have a lot anyway.

I guess I'll figure out what to do once the bridge collapses. :-)