It seems your hard drive has gone to the great bit bucket in the sky. On most Toshibas of that era it's easily replaceable. The main concern is whether you have backups for your data, and an install disk for your OS.
If you have another computer handy, it might be possible to remove the Toshiba drive, attach it as, say, an external USB drive to the other computer, and have that run diagnostics and/or repairs. Or, you could boot the Toshiba from a Linux-based rescue disk (or XP rescue disk if you ever chose to create one) and go from there.
If you're not comfortable farting around, the best bet is a new disk, reinstall the OS and restore the data. XP disk images are freely available and your XP license is probably stuck to the computer somewhere. Note, Toshiba used heat-sensitive stickers for a long time so it's possible the sticker number has gone.
Quick edit: Also, sometimes random stuff happens. So if the drive on your machine is readily removable, simply removing it and reinserting it once or twice to break up any cack on the connector may resolve the issue.
And if not, connecting the drive
Last edited by Bushfiva; 10th July 2013 at 14:49.