I would download Seagate’s latest diagnostic tool from their website. It builds a floppy boot diagnostic disk–then you can test the hard drive and have some confidence on whether the disk is bad or not. The test does not need the drive to be formatted in order to run. My guess is that the drive is toast and should be discarded.
In the case of your hard disk drive, you cannot really format it if it has bad sectors. Bad sectors are unrecoverable damage in some areas of your computer hard disk drive. Make sure that your hard disk drive is working properly without bad sectors to continue formatting.