if the drive failed and you need the data then yes most of the time you can recover it... the down side is that this is cost $$$ because a human needs to open the harddrive up and use a special tool to read the disc one at a time.
it may just be that the harddrive is on the way out but not fully dead yet and in that case you can normally remove the drive to a different system and recover what you need from it but don't wait forever mate... have you got a shop | friend that knows how to replace a hdd for you?