For some time now my computer will randomly make a click sound, and it somewhat sounds to me like a hard drive.. But what I dont understand is why.. I also noticed that my external USB hard drive wouldn't work since it wasnt recognized, unless I hooked up a powered USB hub, then it worked like a charm. Is this pretty much my power supply going on its way out?
Maybe. But I think they are unrelated. If a hard drive clicks, ever, that is a ominous sign. I recommend you run a HD Diagnostic tool on it asap.
Yeah run a diagnostic tool on the HDD it might have a bad sector as well so I recommend checking it. Worst case you might have to format it or replace it.