then that drive is completely failing and you need to back it up. althought there are programs claim to "fix" bad sectors without data loss, but in my experience, they never have.
I would advise you to recover the data from the bad sector first first and you can use data recovery software like iBoysoft Data Recovery to recover your data:
https://iboysoft.com/data-recovery/free-data-recovery.html. once you will get the whole data recovered, it's time to reformat the drive for usable again.
but formatting can only fix bad sectors that aren't physical, generally related to a software issue that leads the sector to be marked bad. if you fail to format your drive, then the issue results from physical corruption. Physically damaged bad sectors of the hard drive can not be repaired, prepare for replacement. if it's still under warranty, who owns it doesn't matter. i had a 1 TB Seagate drive with some bad sectors, I sent it to Seagate and they shipped me out a brand new drive.
good luck!