I am no computer whiz, but it sounds like the path being searched for is either incorrect or corrupt.
Your path should read something along the lines of: C:\Program Files (x86)\BeerSmith
Sounds like you may need to reinstall the program. I would contact beersmith, see if you can get another ID key at no charge, and reinstall the program. If your backup is corrupt, then you may not be able to get you recipes back.
Again, I am no whiz, but I have had my fair share of computer issues.
I'm sure a computer engineer, software engineer, or computer phenom will chime in with better/more info.