All hard drives fail; that's just a fact of computing. It could take a month or several years, but eventually every drive will give out. That's why you should always back up your data.
Sometimes a drive will let go without warning. Many times, however, there will be signs in advance. You might hear unexpected noises, for instance. Fortunately, there is a better monitoring solution than listening for noise.
All new drives and computer motherboards have a monitoring system called S.M.A.R.T. This keeps records of drive statistics to determine its health. You just need a program to read the stored information.
CrystalDiskInfo is such a program. It gives you all the technical and S.M.A.R.T. information about your drive and can even include temperature. Most of the information is very technical, but don't worry; the program also includes a simple Health Status meter you can read at a glance.
Note that this is a portable program so some antivirus will flag it as a malicious program. Don't worry; it's perfectly safe.