That depends on what you mean by "wipe." If you just mean that you want to remove or replace that file, that probably will fix the issue. If you mean that you want to format the drive, that should also fix the problem, but you'll have to reload all the data on the drive from some backup source. If you REALLY mean "wipe" in terms of completely deleting EVERYTHING from it so that nothing can be recovered, you'll have to repartition and reformat then reload the data.
You may want to find out if the drive's manufacturer has a utility to test the drive and see if what you're seeing is a sign of impending drive failure or just one file being corrupt. You should also check into what the SMART status of the drive is-run System Profiler and select the Serial ATA entry to see what it says. "Verified" is a good status, anything else is not.