Both the sound and the steady amber status LED could be indicating that the internal hard drive in your Time Capsule may have failed or is about to fail.
I would recommend taking it to your local Apple Store to have them confirm. If you purchased it with an Apple computer it may still be under warranty.
If not under warranty, the other option is to temporarily remove the hard drive, place it into a drive caddy and connect it to your Mac. Then you can use the native Disk Utility or another similar utility of your choosing to fully test the disk. You may find that you can revive it via this method. If successful you can then reinstall the drive in your Time Capsule.