Windows 7: Laptop freezes randomly, error 0x00000e9

I'm using an OEM windows 7 home premiun laptop.

Lately my laptop freezes randomly.

so i first tried reformatting it using the acer erecovery tool but same problem.

next i tried using the windows recovery partition( i have 2 recovery partitions;i'm guessing 1 is acer's and the other is windows') i press the f8 key and a black screen appears saying windows is loading files. the load bar only loads a little bit and then i get another screen sayin i have an error because of failing hard disk (sorry i cant remeber the whole message) but in the bottom i get this:

status: 0xc00000e9
info: an unexpected I/O error has occurred.

I'm guessing my hard disk is failing. and if i want to change my hard disk will this affect my OEM windows? Any help is much appreciated. Thank you.

Work through these troubleshooting steps to test hardware, utilize System Resources, read the logs to try to isolate the problem.