A live cd is a disc with an OS of its own running straight from the cd without installing on the HDD.
It can be useful for when you cannot boot into windows anymore and has a wide variaty of uses.
System rescue cd is a decent one, and as the name suggest you need to burn it before you can use it. :/
edit: or if you are lazy (and have time, which you said you didn't have though) I'd go to a computer shop and let it check though. I'm pretty sure that by this stage your laptop has some hardware damage.