Look at the caution lines. It may mean that the spare sectors are being used up and no more is available. I have one that still works for years that the error threshold is exceeded according to the Crystal Disk Info. I retired it and replaced it with a 2 TB hard drive that only lasted only a year so I had to bring back the old drive to transfer the data to a different new drive to replace it.

You are right to be cautious.

I replaced that drive by cloning it to a larger drive. Still use it as a backup clone that I renew every 3 month or so. In addition to regular backups, my 4 PC drives all are cloned as well.

Cloning and backing up has saved my hide many times. On the PCs all drives are plug in using inexpensive cages, it only takes the time to shut down and boot again to replace a drive.

Recently I picked up a virus with phone numbers to call etc, so the drive was replaced with a 4 day old clone but to my surprise the clone had that virus too, it just layed dormand while I made backups. Luckily a month old back up saved the day.

For cloning and backing up I use AOMEI BACKUPPER, free software as well. And there is AOMEI PARTITION ASSISTANT free as well.

Eugene

One of my PC's years ago had a 20 MB, yes megabyte, HD. Times have changed. 73s, WA6JZN ex DL9GC
CYBERLINK PLEASE ADD UHD BLU RAY BURNING SOFTWARE
PD14,
Win10,64bit.CPU i7 6700,16GB ,C= 480 GB SSD ,GPU GTX1060 6GB 1 fan. Plus 3 int, 4 ext HDD's for video etc.LG WH16NS40 reads UHD.
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A drive shouldn't be failing at 8000 hrs. I just did a check on one of mine - about 35,000 hours. That's 4 years, running continuously. (Has a 5 year warranty.)