Still got the handbook? If so, you will find how to print a test page without the computer interfering. Typically, switch printer off, the switch on again holding down page-advance button or something similar. If you get an error there, then yr printer's probably kaput.
If all well there, try printing a test page from the computer. Control panel > printers & faxes > right click on yer printer > then in the Properties page you should find all sorts of exciting stuff including 'print test page'. Does that work without error messages?
Whether or not, you may like to try right clicking on the printer again, deleting the printer, then re-starting the computer. It should find the printer, and 'install new hardware'. If you still have the install disk, let it use that, otherwise it will find the printer driver and reinstall. The problem with the second course of action is that you may reinstall the error which has been bugging you.
If all that seems too much, then printers are cheap as chips these days... and you'd probably find one of better or equal quality at a price that's not too unreasonable - even if you go to PCwhirls or some such.
Good luck