Ah, time to use my new knowledge I recently picked up off the BBC. The best way to wipe a hard drive is not to format it, as the data is still easily recoverable. Short of buying an entirely new hard drive, you should use a free utility called Darik's Boot and Nuke. This overwrites the hard drive with zeros, essentially making it "fresh" again. Here's a link I found off google:
http://www.dban.org/download
For the juicy details, here's the BBC article:
http://news.bbc.co.uk/1/hi/technology/8056364.stm