The hard drive has failed and will need to be replaced. If you are still in warranty HP will replace it. If not a retail 2.5" laptop SATA hard drive can be used-Western Digital,Seagate,Toshiba,etc
Just be sure to get one of at least equal capacity as the original in order to use HP Recovery Media to install Windows. It can be larger, but not smaller capacity.For instance if you have a 500GB hdd you could use a 750GB hdd but not a 320GB hdd.