The Specs of the computer are fine.
The questions that should be asked are...
did you, install anything new?
did you add any new hardware to the computer?
What operating system are you using?
Have you used task manager to view the resources?
HP Specs on site say, Microsoft Windows 7 Home Premium (64-bit) so instructions are as follows...
Crtl+Alt+Del -> Click on "Windows Task Manager" -> Once the window is up click on the tab "Performance", bottom you should see "Resource Monitor" click on it.
From here you are able to see what is causing the faults or taking up resources.
Now the "Overview" just shows everything, while the other tabs will show everything in detail of the individual components.
For Page/Hard Faults What you want is "Memory" hard faults are other wise known as the programs are putting memory usage on the hard drive instead of in the Random Access Memory (RAM). This causes your computer to slow down significantly. Only at large numbers though, it is rare to see hard faults with computer having 6 gigs of ram or more now, but the page file system is still in place for windows.
To potentially fix issue above
In Windows 7, to check the page file size, press the Windows button on the keyboard or click the Start orb and type in "system." In the search results at the top, click the item that simply says "System." This is a shortcut to Start → Control Panel → System. Click "Advanced System Settings" and then click the "Advanced" tab. In the "Performance" area, click on "Settings." In the resulting dialog, you should see your page file size under "Virtual memory."
Should you let Windows "automatically manage the paging file size for all drives?" There are pros and cons involved. An advantage of Windows handling it is that you won't run out of page file unless you run out of hard drive space. A disadvantage is that a variable file, unlike a fixed-size file, may become fragmented and cause even more hard drive activity. Of course, if Windows runs out of swap space in a fixed-sized file, it may promptly crash.
For that drive, "Virtual Memory" is showing as Recommended: 6411 MB and Currently Allocated: 7241 MB. (The PC has 6 GB of RAM.)
If you prefer to manually manage your swap file size, try making it about 15% larger than your amount of RAM, no more then this larger and it will potentially crash the Operating System.
Another thing to look for is CPU usage. You could have a anti-virus program scanning your computer because it was scheduled to so or could have a virus slowing you down.
So run your anti-virus programs. It is good practice to scan in "safe mode" once and awhile as well.
Known programs able to run in windows safe mode.
Spybot - Search & Destroy
avast! Free/Pro Antivirus
Do things first before you start messing with physical hardware.