You should contact HP, but they may not rely on that tool to determine if the disk is working properly. However they may provide a tool that will determine if there's an issue with your hard disk. Backup your system so that you can restore it if need be.
Since it wasn't backed up, how important is your data? You can run recovery tools on one hard disk, but don't do it on the other one if losing the data isn't an option.
You can try http://www.partition-recovery.com/products.htm#file_rec..., http://www.easeus.com/datarecoverywizard/recover-lost-p... and other suggested tools. I'll admit that I never had much success with free recovery tools; that's why I perform backups. However other mambers may be able to suggest a free utility that will undo the damage done by Clear MBR. All data should still be there; only the partition should be gone; so fixing the MBR may work.
First the disk may still be fine, you have to monitor if this parameter grows quickly over time. If so it might be a sign of a likely soon failure.
those sectors have been reallocated (remapped) to reserved space so they are not "bad" for diagnostic tools including the bios one. Before "real" bad sectors appear you probably have no basis for warranty replacement
I dont think i have any data missing. The hard drive hasn't behaved in any odd way except there was a problem with the os start up once which i repaired with start up repair. I am keepin check of the parameters for now and if the bad sectors increase, it could mean an imminent failure right? Thanks anyway.