if it says it needs to be formatted you might be out of luck. i had a drive exactly like that, filled with backups of files from my system that had crashed 1 year after passport crashed. I brought my drive to several people, including an it and tech instructor at my highschool, who said that there was unlikely anything could be done. it was reading 2tb of free space when the drive was only 500GB. i would try to bring that to a data recovery place, but other than that, there is not much that can be done. I know it sucks to hear it, and i know how you feel, when i say it might be too late, but there is a chance that a good data recovery person can get atleast something back out of the drive. but i would not plan on using it if you do get the data back, because it will likely happen again.