Hello srhk. Thank you for posting on the HP Forums.
I understand the hard disk is experiencing issues. Error 301 indicates the hard disk possesses a hardware defect. I would contact HP Phone Support for assistance, or purchase an equivalent hard disk.
If you choose to contact HP, their options will be based on the warranty status of the computer. If you do not have this information, you can locate it at this website: http://h20566.www2.hp.com/portal/site/hpsc/public/wc/home?ac.admitted=1384280905804.876444892.199480143
You can utilize this website to learn how to contact HP appropriately, based on your region: http://www8.hp.com/us/en/contact-hp/ww-contact-us.html
Please let me know if you have any other questions or concerns.
Mario