I'm afraid that the routine for fixing a locked disk if the disk has not failed, requires using Terminal commands.
If you feel comfortable trying to use Terminal then here is what you can try:
Fix Permissions for a Locked Drive
Open Terminal in the Utilities' folder. Copy and paste the following commands at the prompt. Press RETURN after each. The first command will prompt for you to enter your admin password. It will not be echoed to the screen. After entering your password press RETURN again.
sudo chflags 0 /Volumes/*
sudo chmod a+rx /Volumes/*
killall Finder
Now, if this doesn't do the trick you will need to move on and try this:
I looked first hand at this problem and the following commands unlocked and formatted the disk, although Disk Utility could not.
$ diskutil list
Should show something like this:
/dev/disk0
#: TYPE NAME SIZE IDENTIFIER
0: GUID_partition_scheme *121.3 GB disk0
1: EFI 209.7 MB disk0s1
2: Apple_HFS Macintosh HD 120.5 GB disk0s2
3: Apple_Boot Recovery HD 650.0 MB disk0s3
/dev/disk1
#: TYPE NAME SIZE IDENTIFIER
0: GUID_partition_scheme *64.0 GB disk1
1: EFI 209.7 MB disk1s1
2: Apple_CoreStorage 63.2 GB disk1s2
3: Apple_Boot Recovery HD 650.0 MB disk1s3
Then format the disk in question. In this case, disk1.
$ diskutil eraseDisk JHFS+ name disk1
You should see this:
Started erase on disk1
Unmounting disk
Creating the partition map
Waiting for the disks to reappear
Formatting disk1s2 as Mac OS Extended (Journaled) with name name
Initialized /dev/rdisk1s2 as a 59 GB HFS Plus volume with a 8192k journal
Mounting disk
Finished erase on disk1
The following web pages helped me figure this out and might be of use to somebody else.
https://discussions.apple.com/thread/4091299?start=0&tstart=0
http://derflounder.wordpress.com/2011/11/23/using-the-command-line-to-unlock-or- decrypt-your-filevault-2-encrypted-boot-drive/
Note that the above was not written by me but I have used it and it does work. But if you don't feel comfortable with it then skip it. Take your machine in for repair. You may find that the HDD needs replacing.