I have a Lacie d2
Yeah, this is not a MAC only issue, it's typical with hard drives. From your description, I'm afraid your drive is broken, or misconfigured in the boot loader. The light is blinking because the machine is trying to communicate with the drive, and were there no noise, I'd say it could be the controller card, which could be replaced with some skill and an identical card; but, that's not a job most will do, and companies that do it charge 'a lot'! So, unless there's something you cannot live without on that drive, it's probably junk. The noise on the other hand is very familiar to me. It's indicative of failed mechanics, most likely a crashed head. The clicking is the drive trying to move the head's armature and slapping around. This can occur because of age, and most drives last 5+ years, but most are warranted for 2 to 5 years depending on manufacturer, or 250,000 to 1,000,000 hours MTBF for companies like seagate. (MTBF = mean time between failure).
So, I don't expect you'll want to upvote this answer for such bad news; but, I figured someone ought to tell you.
