Kinda.
First requirement is to get all non-backed-up stuff off the borked drive onto flash memory. A "live" CD/DVD in the DVD drive will do that: I'd use Linux, but there may be Windows-ish "live" systems too.
After that it's a case of finding the installation discs and re-installing, then recovering personal files from the various backups.
If the cause of the initial corruption isn't known I would always fit a new disc drive (they're SO cheap now), and try to re-format and re-use the old one later.
In the past I've replaced disk drives due to "errors" that turned out to be a problem in the memory at the location that the disk drivers were loaded. So do a thorough memory test as well (google memtest 86).
mad_jocks's post has crossed with mine since starting typing this. We seem to agree that Linux is very useful at recovering Windows machines with disk problems. So useful that I avoid Windows entirely....
'b