I'm sorry for the difficulties you're experiencing as the Camcorder is generating beeping sound. Based on the information you have provided, it seems that the issue is with the cassette drive mechanism.
I suggest that you reset the Camcorder and check the operation. To reset the Camcorder, please press the reset button shown in the below picture. Make sure that the camcorder is turned ON when pressing the reset button.
If the issue persists, please perform a manual power reset by following the steps:
1. Turn off the camcorder. 2. Disconnect AC power adapter. 3. Remove the battery pack. 4. Move the POWER switch to the CAMERA position for 15 seconds. 5. Move the POWER switch to the OFF position. 6. Reconnect the AC power adapter or reinsert the battery pack. 7. Turn on the camcorder.
If the issue persists after power resetting, the tape mechanism may have to be changed. However, it is not economic to fix this old Camcorder by replacing the tape mechanism. The best possible option is to get a playback device for your old tapes, play it and connect the A/V output to the A/V input of the Computer and use Windows Movie Maker to capture the recordings.
Alternately, you may purchase an 8mm to VHS adapter to playback those tapes in regular VCR. The below link shows the one you need. Click here
to view the adapter.
Thanks for understanding. Please let me know if you require further clarifications.