There are a few possibilities.
If it's been plugged in continuously, the adapter may have simply overheated. Allowing it a few minutes to cool down without being plugged in could possibly fix it. Try unplugging the power cable from both the wall and the laptop for 30 minutes and give it another shot. This might work.
The other, less happy, possibility is that your adapter overheated to a critical point or was struck by an electrical surge and is damaged beyond repair. You can order a new one from a site like eBay or directly from Toshiba. Looks like you could get one from eBay for around 25$US incl. shipping but be careful and make sure you order the right thing.
Some eBay results:
http://search.ebay.com/search/search.dll?from=R40&_trksid=m37&satitle=ac+adapter+portege
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