2nd hard drive has drive letter conflict ... what do I do?

I have two hard drives in my computer which is a old Compaq Presario 5WV271 5000 series, both hard drives have Windows XP pro (service pack 3)that I installed on it years ago. It has the max alotted memory, a 10/100 PCI NIC, 900 MHz AMD Athlon Processor, a master hard drive 40 GB (drive C) that I am using to connect here and a slave hard drive 60 GB that says drive D when I am using it but not found when on drive C. For some reason drive C shows a (New Volume F). I am posting here to see if anyone can help me to understand why my slave drive which started out being New Volume F (which it still is when I look for it from drive C) is showing local disk D when I am using the slave. Does anyone have any idea why the slave would reletter itself and how do I correct this?

How does it look to you using XP's "Computer/Disk Management" utility?

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Your other topic is located on GTG HERE