First you have to enable the file and printer sharing under Control Panel/Advanced Sharing Settings. Full path:
Control Panel\All Control Panel Items\Network and Sharing Center\Advanced sharing settings.
Once the file sharing is enabled go to
Computer, right click on the drive you want to share, in this case the drive corresponding to your external harddrive and go to the
Sharing tab. Under Sharing click
Advanced sharing and check
share this folder. Once sharing is enabled give the folder a name, in this case I would give it the drive letter, eg. E and click
For the printer sharing go to
Devices and Printers, right click on the printer you want to share and click on
Printer Properties. Under Printer Properties click on
Sharing and check
Share this printer, give it a name and accept the changes.
On your other computer go to
Computer, right click anywhere, choose
Add a network location and select
Choose a custom network location. Under the
Internet or network address write your other computer name/shared drive name, eg. MyComputer/E. Click next and finalize the setup.
To add the printer go to
Devices and Printers, right click anywhere and choose
Add printer and choose
Add a network printer. If your sharing was done properly the shared printer should appear in a list, select it, install the drivers and you're done.