The range of normal and acceptable temperatures, and how to lower them if necessary, varies based on the specs and type of setup you have. Thus, the following information would be helpful:
1.) What does the temperature 124F relate to...processor, motherboard, or case?
2.) What processor do you have?
3.) Is this your laptop or a desktop?
4.) Were these temps taken immediately after you turned your system on or after hours of use?
In short, the hard drive is a little warm but nothing to be overly concerned about at this point. The other one I'll reserve comment on until I know more.
Let us know.