Please provide specs of your laptop not just its model number, most of us won't go out of our way to look it up.
What are you doing when the error is given?
Also, as great as these forums are, please don't for get that google is still a very effective tool. Just searching for hardware errors and 301 I came across the HP forums, where some owners were having a similar issue. Many replies simple stated buy a new drive, one more intelligent poster suggested using HP's hard drive tests for more information.
http/h30434.www3.hp.com/t5/Notebook-Hardware/Smart-Hard-Disk-Error-301/td-p/545319
that is the link to the forums replies I found.