No data storage media or device lasts perpetually. That's way this is inevitable that the computer hard drive would fail at some point of time. Even if the hard drive does not fail before its warranty is up, several internal components might get damaged due to power surges, tear and wear, natural disasters and so forth.
The damage may also occur due to logical failure because of file system corruption, operating system malfunction, virus infection, hard drive formatting and other such issues. All these circumstances, cause serious data loss and require data recovery through appropriate tools, to be sorted out.


(Wherein I wake up on Mars image by David McLeish, CC 2.0)