That's a tricky one. I make no guarantees, but check out the
Playstation 3 Safe Mode.
I would start with option 2 (Restore Default Settings). Apparently this guarantees it will preserve your information and attempt to fix the PS3.
If it doesn't work, move on to option 3 (Restore File System). This one makes no guarantees; you might lose your information, but hey you might fix the problem and still have your info!
---Everything after this point wont' save your information---
Finally, there's options 4 (Rebuild Database) and 5 (Restore PS3 System). These delete everything, but you should be able to get your hard drive back to working condition.
But if for some reason it doesn't go back to working,
you could just replace the hard
drive. The PS3 uses standard 2.5inch SATA laptop/notebook hard drives
(5400 or 7200 RPM). They can be found online at any computer parts
website; for example, Tigerdirect.
Alternatively, you could send the PS3 back to Sony. If you're under warranty it's free; otherwise it's expensive (150$ I believe). They won't save your information, but they will get your PS3 working again.
Just so you know, anything you purchased on the PSN store (DLC/games) can be re-downloaded for free. All your trophies are saved online too (assuming you synced it). You'll just lose local content (game saves/data, pictures, videos).
Hope you can salvage it; good luck!
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