This is incorrect. That program and others similar to it are useful for recovery, not repair (save for in the case of some magnetism issues you'll rarely see on modern drives). They mark off bad sectors on the disk that may not have been found yet (this would be done automatically, eventually), then attempt to read data from the bad sectors by altering the drive speed and/or approach vector, then relocate any recovered data
This will NOT extend the life of your drive, and should not be used for any purpose other than attempting to recover data from an already failed/corrupted drive.
Indeed. The second one is telling you that it has some bad sectors it hasn't completely given up on yet - the more concerning thing there is that the drive is going offline, which may be the cause of the read errors rather than actual bad sectors.