can you perform disk check? get into dos and type "chkdsk c: /f" without the quotes and with he spaces as shown. This will not do anything immediatelybut would schedule a diskcheck the next time you boot up.
restart your PC and let the disk check continue. If you again BSOD, then there is a chance that hard disk might have bad sectors.
This is a known problem with XP it is sometimes also attributed to a logitech mouse driver version. so update that as well.
if you have a seagate hard drive then download Seatools. It is a hard disk utility and you can perform some tests to check if your hard drive's health. Run a DST (Drive Self Test) using this utility.
if you feel that your hard drive has been more noisey lately, take a backup of your Data. although it's not likely, your drive might be failing...not likely (just a thought, do not panic).