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hard disk problem on computer?

my computer keeps coming up with an error saying that there's a hard disk problem. it's related to the C: drive. what does this mean? is my computer on the fritz; easy fix; computers toast??

still works, however it's slow at times. it's a toshiba satellite. not sure which numbers L500?? or something like that. appreciate any kind of help. thanks

Update:

my question may be too vague for a response. i'm not very computer literate.

Update 2:

thanks for the answers. i'd like to add that i could really care less about the computer at the moment. my fear is losing important things; such as pics i'm not sure really what that means if my hard drive fails. it seems pretty important. by your response it appears that it's not a BIG deal, but am i going to lose things that could be important to me?

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