Well, it depends on how the drive fails really.
Sometimes a simple scan disk can repair it. Somtimes if the drive is erased you can use a program to recover it..like Restorer2000Pro or Easy Recovery Pro.
Unfortunately since on a striped array the data is split in half so you have no idea what data goes where!
Just be careful(of course) and most likely you want have any problems as simple machines like DAW's very infrequently have problems. It's servers working like mad dogs that usually have failed drives.
Opus