Method 1: I would suggest you to check of you can open the system recovery options without using the installation disc-
a. Remove all floppy disks, CDs, and DVDs from your computer, and then restart your computer using the computer's power button. b. Do one of the following: If your computer has a single operating system installed, press and hold the F8 key as your computer restarts. You need to press F8 before the Windows logo appears. If the Windows logo appears, you need to try again by waiting until the Windows logon prompt appears, and then shutting down and restarting your computer. If your computer has more than one operating system, use the arrow keys to highlight the operating system you want to repair, and then press and hold F8. c. On the Advanced Boot Options screen, use the arrow keys to highlight Repair your computer, and then press Enter. If Repair your computer isn't listed as an option, then your computer doesn't include preinstalled recovery options, or your network administrator has turned them off.
c. Select a keyboard layout, and then click next.
d. On the System Recovery Options menu, click a tool to open it. Refer the below link for more information -
What are the system recovery options in Windows 7? http://windows.microsoft.com/en-US/windows7/What-are-the-system-recovery-options-in-Windows-7 Method 2:
If the repair option is not present in the advanced boot options and you are unable to perform the recovery then in that that case there are no options other than getting the installation disc or contacting Hp for assistance.
The error code you are getting while restoring to factory settings is some error associated with the hardware for Hp computer. You might need a tool or some hardware update from HP to get over the error.
You may use the below link and check diagnostic tool update assists you resolve the issue - http://h10025.www1.hp.com/ewfrf/wc/genericSoftwareDownloadIndex?cc=us&dlc=en&lc=en&softwareitem=pv-77569-1&jumpid=reg_R1002_USEN
For further assistance you may contact HP using the below provided link - http://welcome.hp.com/country/us/en/support.html