imho, there is no alternative fix for a bad sector. a bad sector means a PHYSICAL damage on the disk. if it is under warranty, have it returned to the shop or store you got it. if not, then you may opt for http://www.seagate.com/support/disc/utils.html and see the utility that suits you.
there are a lot of low level format (zero fill) utilities out there. and since your disk is almost dead anyway, try to play with it http://www.disk-utility.com/hard-dis...el-format.html.