Welcome to CD Freaks.

Hopefully it is just some small configuration problem and
not a worn out drive.

The error message is a bit vague. A full log would be more
useful. Don't forget to remove your serial number before
to post it.
Check that DMA is enabled for the CD-RW drive and for
your hard-drive. Check that your IDE cable is OK.
Make sure that the CD-RW and HDD are not on the
same IDE cable. Try using different media.

If all the above fails, burn a disc with the Create Disc
function of CD-DVD Speed, save the results (floppy icon)
and post them here.