Disk Utility - SMART Status Bad Sectors/Error

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http://askubuntu.com – I have 12.04 32bit installed on my hard drive. Ubuntu is the only OS. I recently installed it after getting rid of Windows 7. When I run Disk Utility under SMART Status it says "disk has a few bad sectors", so I clicked on View SMART data and run self tests. I run the extended SMART self-test and it only takes 5-10 seconds for it to stop and reads Self-Tests: FAILED (Read), Bad Sectors: 1 bad sector, Overall Disk Assessment: Disk has a few bad sectors. Is this something I should be worried about? (HowTos)