I have an HP 554e and had to do a destructive recovery. When I reinstalled XP SP3 I had no sound. There is, of course, a question mark by the Multimedia Audio Controller in the device manager. I have tried to reinstall the driver and nothing. I have uninstalled the Multimedia Audio Controller and restart, nothing. I went to the HP site and it gave me to sites to get drivers from, Realtek and Creative. After downloading and installing the drivers both said no sound device was installed.
The sound worked before the recovery so I don't think its the sound card, which I think is integrated into the motherboard.
What kind of sound chip do you have now, onboard or add-on? If you have both, disable the onboard from the bios and enable the discreet.
But before you do anything else, remove and disable the audio controller from the bios and un install the audio drivers. Install CCleaner and use it's registry clean, when finnish, shutdown system.
Install the prefered soundcard then reboot to bios, enable the soundchip that you are going to use only. then reboot. Your operating system should recognize new hardware, if not then check if the system could recognize new hardware by inserting usb devices. Post back what you find.
What Service Pack do you have now? and your HP disc I assumed it's a recovery disc not a full version of Windows XP?