WD HD 2TB is "Failing"

I have been using my WD External HD since July 2012, it started to make a clicking noise this week, I backed up all files to a new WD HD, some of the files did not transfer or are not able to be read on either drive due to a “bad sector” . Can the sector be repaired or the HD ? Here is the info :

Vendor: Western Digital
Model Number: WDC WD20EADS-00R6B0
Serial Number: WD-
Firmware Revision: 01.00A01
Size: 1.8 TB
Cache Size: >= 32.0 MB
Temperature: 43 C
Physical Sector Size: 512 B
Logical Sector Size: 512 B
Logical Sector Count: 3907029168
Supported Standards: ATA8-ACS, ATA/ATAPI-7, ATA/ATAPI-6, ATA/ATAPI-5
JULY2012 - K:
Volume Serial Number: DAFE-589A
File System: FAT32
Volume Capacity: 1.82 TB
Volume Free Space: 1.01 TB
Volume Used Space: 830.93 GB
SMART Status Test
Test Started   6/13/2013 6:51:40 AM
Error Message: The SMART status information indicates that the drive may fail soon. 6/13/2013 6:51:40 AM
Test Finished: Failed (Error code: WHD17-WJV)

Why don’t you try this?  http://wdc.custhelp.com/app/answers/detail/a_id/197/session/L3RpbWUvMTM3MTEzOTk0OS9zaWQvM3hrc01Fc2w%3D