What to do: 1.) Turn off PS3 so the red light is on. The console will turn on, and eventually turn off again.3.) Once off, with the red light on again, press and hold the power button.You will hear one beep, another single beep after that, and then two beeps in a row.After the two beeps, let go of the power button so it doesn't turn off again and you'll end up in the system recovery menu.For those that don't know, the PS3 has an operating system capable of restoring damage to the hard drive's file system/database - these can get damaged when the PS3 is shut off completely (pulled the plug while playing/power outage), when a game crashes (RDR, Skyrim, GT5, PSHome, etc), or when the system hangs when trying to do something and you soft reset.(stuck in the PS3's underwhelming web browser, etc).
What you want is the other two options: A) "Rebuild Database" which should be option 4 (this might take a little time be patient).B) "Restore File System" which should be option 3 (your bootup code, restoring is almost instant).