Your hard drive is probably bad. You might as well get a new one.
Pretty good option if the laptop is worth saving:http://www.newegg.com/Product/Product.aspx?Item=N82E16822148914
You can find videos on how to replace the hard drive:http://www.youtube.com/watch?v=8U23F8JuKKE
If your laptop has a restore disc, you can use that, otherwise you're going to have to buy a new copy of windows.
If you post the specs of your laptop I'lll tell you whether to save it.