Specifically, what might "A Fail event had been detected on md device /dev/md2." ramify?
(in an email from Plesk control panel's "Logwatch" BTW)
As omry said, that's raid device. It can be mounted directly, or shielded by LVM.
In typical case you can work uninterrupted after getting the error mentioned, but your drive is not mirrored anymore.
Take a look at /proc/mdstat if you have access to this file, you may find more details there.