Trying to figure how to replace working external hard drive

I have a working hard drive, fully backed up with wd software. It has shown signs of failure so I have a new wd passport, ready to replace with. How do I replace the faulty working hard drive with a new one? Do I copy files to new drive and backup software will recognize by data or drive letter? Or do I restore backed up data to new drive wd smartware software? When I go into the retrieve tab, the new drive does not show as an option to retrieve the data to? A little confused how to go from here.


You can either backup the computer to the new drive again or just copy and paste the backup folder from one drive to the other.