I went to Control Panel>Printers and devices.
After devices and printers there was a third row with an unidentified USB device. Going to the properties of the device and then to change configuration (a button with the admin shield on it) I was able to force the system to look for an update for the device driver
. It found one and installed it after which the drive popped up in my explorer. It works fine now.
Hope this will help someone who runs into the same problem. I still don't understand why this would happen, but at least I can use my drive again and access my files.