Dont listen to the cloning messages above, they will only lead you down the path of needing to download loads of drivers.
Use either "files and settings transfer wizard" which is the easiest way found in start - all progs - accessories- system tools.
Or copy your profile which means copying everything in c:\documents and settings\*yourusername*\ to a backup drive. this will backup your desktop, my docs , internet favourites etc.
then switch your laptop off. turn it on , press the key needed to go into the Setup or Bios, from there you might find the laptop disgnostic programs. run it and record any error code relating to the hard drive. Then call the support desk of whoever you bought the laptop from, they will replace if still in warranty. If not youll have to buy a new drive or laptop.
The imminent failure message wont go away, it will fail soon.