Sorry to be the bearer of bad news, but that error message means that your hard drive has failed.
It will need to be replaced.
But the problems don't end there. Ordinarily, I would recommend using HP Recovery Media to restore your PC to its original condition. That would erase the entire drive, format the drive, and install the OS, the drivers, and the HP utilities.
Unfortunately, there is no HP Recovery Media linked to the HP Product Page for your PC. This could be an oversight by HP, or it could also mean that HP no longer stocks the recovery media for your PC. They no long stock recovery media for the older PCs.