How to reformat and fix the multiple problem of a laptop?

How to reformat and fix the multiple problem of a laptop?
I have a Panasonic laptop that has low memory and the screen of my laptop has colored vertical lines. I think it has 4-5 vertical lines to it that makes me double my sight. I decided to reformat it. I get my bootable disk and its Windows XP Service Pack 2. I inserted it to the cd rom and then I reboot my laptop. When it windows XP starts up, I noticed that it run really slow maybe it will take an hour to be but it suddenly stack up. After that I reboot it again because it might fix the problem.
The following are the problem of my laptop:
* Failure reformat
* Vertical lines
* slow memory
How will I fix the multiple problem of my laptop? Please help..
