HELP!!!! BAD SECTORS ON 500GB HDD

hi there

i purchased a 500gb verbatim external hard drive , about a week ago my music and movies on it stopped working , when i tried copying the files it said "file redundancy error" . i downloaded a western digitial hard drive utility and it failed the test with it ending half way giving the message "could not continue , too many bad clusters" . i then tried formatting it and it gave the same message. it still works but i am afraid of putting any information on it .

Is there a way to partition the bad sectors off from the rest of the hard drive and how long will it last for?

or should i just purchase another hard drive ?

please i really need help , any feedback will be greatly appreciated

thanx

RuvenDRAN

thanx but its too late

i think the hard drive is dying , i plugged it into my computer and it didnt appear under my computer but it under device manager it is there , is this a sign of it dying?