As Watzman pointed out - the way the file was saved and it is now being retrieve could be the possible problem.
8 years ago, hard drive manufacturers were less reliable in marking bad sectors on a hard drive.
By default windows tries to save the file on a good sector and tries to mark bad sectors in the process of reading and writing to the external drive.
My only suggestion to you - is that you try to use a File Deletion Recovery Utility. You can find them here at Cnet/Download and try to have it read the external drive and specifically only your photos folder so that you can recover any possibly ""bits"" of information that may otherwise have been either marked "unreadable" and Windows alone is not able to bring those bits back.
A good file deletion Utility can help you in putting all the bits together and re-construct the photo entirely for you.
The only minor problem you will run into is that it may rename the complete file or bits recover with simple names such as 1,2 etc.
Instead of the actual name you gave the picture.
But with some luck, if you are now able to see the name, then maybe the utility will recover the entire file for you.
I hope you find a solution.