CPU running very hot and Fan making too much noise

I have a P4 processor (Intel P4 515) on my HP pavilion a815i. There are 2 hard disks, 3 RAMs (256+256+512) and a DVD writer (SONY DRU-190A). My problem is that recently my CPU has started to run very hot. Sometimes the temperature reaches even 88 C. Even the idle temperature is around 65C.I am using a coolermaster heatsink for the cpu. I cannot make out the model number and the SMPS make is BESTEC (250W). It says 14A on the 12 V rail.

Earlier the temperature would reach a max of 60. But now it hovers around 75. I opened my cabinet and cleaned all the dust and grime of my computer but still no effect. Now my question is this due to the thermal paste drying up or a faulty SMPS ,as Speedfan gives the following results on the voltages :

+5V : 4.95 V
Vcpu : 2.16 V
Vcc : 3.28 V
+5V : 4.95 V
+12V : 11.80 V
+3V : 3.38 V
Vbat : 0.00 V

Please help me find the reason for cpu running so hot. Also what should i do get the fan run silently as before. By the way one more question. Can i attach another hard drive on my PC?

[amitash]

OMG dude ur cpu vcore is way 2 high...did u try to overclock or somethin???see this
http://processorfinder.intel.com/det...px?sspec=sl7yv
see the vid there urs is like twice tat...i suggest lowering ur vcore before u fry ur procy...

[Gigacore]

88 deg? Man you can boil the water in summer

.....and also make sure you have a proper air flow inside ur cabinet. Clean the heatsink, clear the dust, reduce the vcore, apply thermal paste, install additional case fans if you have empty space for fan. If you dont take precautions now, you will sure gonna fry ur processor this summer.

Hey people i did not do anything with the comp. It just started to make a lot of noise all of a sudden. I thought dust might be the problem . So I opened my pc cabinet and cleaned as much as i could. The only thing that i did not do was to apply a fresh a coat of thermal paste (it is still using the OEM thermal paste). Rest i have not changed anything. How can i apply a thermal paste on the heatsink and CPU as i have never done that. Any help would be greatly appreciated.....
Pls pls people help me before it is too late. Also there is no way that i can change the vcore as my motherboard does not have any option to change that.

Can anyone tell me which one denotes what.. I mean what i Vcc , Vbat, Remote temperature in speedfan? And which one is the vcore voltage? Pls help me ....