I've been researching about this error, but nothing's seems to work and sometimes the answers are too complicated for me, until I just decided to download the driver for my printer through the manufacturer's website since I don't have the disk with me anymore. I thought that my problem is the printer's driver. And then...
1. Start --> Settings --> Control Panel --> Printers and Faxes. Delete printer icon.
2. Printers and Faxes --> File menu --> Server Properties --> Drivers. Delete the same driver name as you're installing.
3. Printers and Faxes --> Add a printer (follow the step-by-step guide). Check "Automatically detect & install my Plug and Play printer."
4. If the wizard was unable to detect any Plug and Play printers, you need to install the printer manually. Click Next.
5. Choose which printer port you will use, usually your computer has a list of printer ports.
6. Choose the printer manufacturer and then the printer model.
7. If you don't have the driver in your computer, it's best to download it from the manufacturer's site, that's the file that you will use to reinstall your driver.
I am hoping that this would help others, the reason why I registered in this site is to share this. I am not techie, I just happen to discover it through the instructions in my own computer when I chose the TROUBLESHOOT button when my printer didn't work (unfortunately, I forget how I got to that part

). I know this problem is very annoying, so I just want to save you some trouble as much as possible.
Good luck.