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Do you wish to use the Recovery Partition or Disks to recover to factory condition, or use a Win7 installation DVD to clean reinstall now?
You would only wipe or delete the HD if the Recovery Partition is confirmed not to run and you have located and burned to DVD or written to flash stick the Win7 ISO file for your version and have it ready to reinstall following these steps I gave you: Reinstalling Windows 7
If you ran Factory Recovery and it failed before, have you tried running it again? HP Backup and Recovery Manager
There are some tricks we can help you with to force it to run if it won't. And if the Recovery disks will not install a satisfactory installation after running them again, then your best bet is to clean reinstall with a Win7 installer you've located, to a wiped HD so that any corrupt code is overwritten: SSD - HDD Optimize for Windows Reinstallation