[Bloody Sam Roberts]

Go into safe mode. Try to download a copy of the Insane Key finder or an equivalent. Or do this from another PC and run it via a CD or floppy or USB drive on the Toshiba. Record the WinXP lincense COA number (25 digits).

Now use a CD-RW or USB drive to extract any personal data files (My Documents et al).
Shut down the Toshiba and then reboot with a Win XP CD. Wipe the drive and reinstall Windows with the 25 digit license key you found with the keyfinder. Technically, there should be no need to reactivate but it may ask you to.
Reboot and setup the laptop as you normally would...finally restoring your data files.

Then look into a nice imaging software like Macrium Reflect. It's free and will make an image of your hard drive while Windows is running. It's sweet and will allow you to restore an image should this happen to you again...thereby negating the need to wipe and reinstall WinXP. Just re-image.

[TomGuy]

Then look into a nice imaging software like Macrium Reflect.

Absolutely!

I use CloneGenius which runs from CD/DVD drive and creates image files of my OS partition. It has saved me several times. I don't have to reinstall WinXP and all my programs from scratch. Backup/imaging usually takes about 40 minutes, non-compressed, for my 28gb OS partition and about the same time to restore to my last, best OS operation.