Disk Boot Failure…Twice

I had my hard drive for about maybe 5-7 years. Just last week it had the boot disk failure. I fixed it with windows xp disc and it worked smoothly. But just yesterday night, the same thing happened. Just before this happened, The computer was freezing every 5-10 seconds, so i restarted the computer. When i restarted it, the same message came up “disk boot failure”. I checked the IDE/HDD and it was detected, tried to fix it with XP disc, but it did not work. Is this due to my current hard drive and should i buy a new one? Or should i do something else?

Thanks