Why won't my flash drive work?

I have been using a Dane-Elec 2GB flash drive for most of the school year. This morning, when I plugged it into my PS3, it started blinking, (as opposed to staying lit) and would not show up on the menu. When I try putting it in my laptop, it says "Unknown USB Device" and then "Failed to Install USB Device." I've used it on my laptop before, it shouldn't have to install. When I run a diagnostic it says "Windows Cannot Find Drivers on this USB Device. Try unplugging it and plugging it back in, if that doesn't fix the problem, buy a new device." I don't want to buy a new flash drive if at all possible, but if I have to how can I get the data off my current one? Any Help is appreciated.