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PC hardware often fails. I have extensive experience of analysing PC faults, giving remedial advice, and acquiring and installing replacement hardware.<< less detail
The commonest hardware failure for desktop PCs is the hard drive. This is where all your documents, music, photos and videos are stored. Keep a backup; otherwise you will probably lose everything if the hard drive fails.
Network hardware also regularly fails, and is usually easy to replace.
Laptops are not as easy to repair as desktop PCs. Some parts of a laptop are easily replaceable such as the hard drive and the battery pack, but most are not intended by the manufacturers to be accessible.
Inkjet printers are usually not worth repairing. New ones are generally cheaper and faster than the original and come with new ink.