Just do a "Full" (not "Quick") format on it. That will cause the file system to touch each storage location and determine if good or bad. If bad, it will mark it in the drive's tables as bad and not use it.
That said, nothing can really "fix" a drive if the drive itself is failing. You can fix corruption, but if the sectors a physically bad, they will remain bad and it is not uncommon for a drive to continue to deteriorate from that point on. It is okay to use it, but you should make sure you keep regular backups.
So, with this drive installed as a secondary drive and note its drive letter. Using drive D as an example, open an elevated command prompt (Run as administrator) and enter format d: to start the format where "d" is the drive letter.