Sounds like the internal interface card in the hard drive has failed. Luckily if you can hear the hard drive power up then your data is salvagable.

You have a couple of choices:

If you have the item still under warranty then get it replaced and they should provide either a data recovery or replacement of the internal board.

If not then open up the casing and disconnect the drive from the internal power and data cables. Purchase a USB to hard drive cable, which will allow you to transfer the data to another PC, or purchase a replacement hard drive enclosure, which may not look as good as the one you have, but will be just as functional. Enclosures can be purchased from a computer store, Amazon, Ebay etc for very little money.