Blue Screen

MacBook Pro Blue Screen Problem

Model Name: MacBook Pro

Model Identifier: MacBookPro8,1

Processor Name: Intel Core i5

Processor Speed: 2.3 GHz

Number of Processors: 1

Total Number of Cores: 2

L2 Cache (per Core): 256 KB

L3 Cache: 3 MB

Memory: 4 GB

Boot ROM Version: MBP81.0047.B27

I can boot in safe mode but not in regular mode. This just began yesterday when I got the rainbow dial endlessly turning. I turned off the computer requiring a forced shutdown of Safari. Upon reboot I got the Grey Screen as normal but then went to blue screen. I my hard drive about to fail completely?