Photoshop 7.0, Cannot open file after power failure

After a power failure certain .psd files cannot be opened. When you try to open the file either from a Backup DVD disc or hard drive the program simply shuts down. Same thing happens to File explorer if you try to read the contents of the folder where the files in question are located. Has anyone had any similar problems or does anyone know what the problem might be?

Your Preferences file most likely became corrupted during the shut-down. Try resetting it as detailed in the FAQs.

Also (as an aside) make sure you have the 7.0.1 update.

Thanks for the help!!