A quick Google search lead me to this resource which might be useful to you if you haven't already seen it.
http://answers.microsoft.com/en-us/windows/forum/windows_7-performance/event-log-entry-system-volmgr-event-id-46-crash/6fd6f205-7bd2-40db-b985-544092a6609f
The problem sounds reminiscent of a computer I worked on a couple months ago with driver issues. Essentially a driver is just a piece of software that tells the operating system how to interact with the hardware, though the Microsoft answer suggest that it may be related to virtual memory. Either way, persistent errors and crashes can be indicative of a virus or change to the system and can often be remedied easily by removing the virus or reversing the change to the system.
You should try these things in this order.
1) Try shutting off the machine and restarting it fresh just to be absolutely sure that the problem persists and it wasn't an isolated incident.
1.5) Assuming you are using Windows 7 or lower, press and hold the F8 key during the boot up process to access "Safe Mode." In Windows 8, you'll have to boot normally, then at the login screen hold shift while selecting the power icon followed by "Restart" (Safe Mode should help the computer not run into this error while you attempt to fix it.
2) Uninstall anything you installed just before the problem began to occur. Sometimes new software can interfere with the way things used to work successfully.
3) Using Control Panel, attempt to access a System Restore Point.
System and Security -> Action Center -> Recovery
4) Using a healthy computer and a flash drive or blank CD download ComboFix to check for viruses and other problems. (http://www.bleepingcomputer.com/download/combofix/) If ComboFix finds viruses you will want to ensure the virus cleaning completion using RKill, Spybot Search & Destroy, and ESET online virus scanner. (It may seem like overkill but many viruses can be very tricky to detect and using a combination of malware removal tools can ensure that the virus is gone for good and not hiding waiting to reinstall itself.)
5) If all this fails to resolve the problem, you should either:
Take the computer to a professional.
OR
Try reinstalling the Operating System.
Reinstalling the Operating System requires the original install disk or a download of an install disk from a licensed distributor (Free with your product key usually on the bottom of you laptop on a sticker)
Booting from the disk should walk you through the process and may lose all of your data on the computer. Be sure to save important files to a flash drive or blank CDs before attempting a Reinstall
A Microsoft forum about your exact problem:
http://answers.microsoft.com/en-us/windows/forum/windows_7-performance/event-log-entry-system-volmgr-event-id-46-crash/6fd6f205-7bd2-40db-b985-544092a6609f
Booting into Safe Mode (Windows 7 and lower):
http://windows.microsoft.com/en-us/windows/start-computer-safe-mode#start-computer-safe-mode=windows-7
Booting into Safe Mode (Windows 8 and 8.1):
http://windows.microsoft.com/en-us/windows-8/windows-startup-settings-including-safe-mode
ComboFix download:
http://www.bleepingcomputer.com/download/combofix/
RKill download:
http://www.bleepingcomputer.com/download/rkill/
Spybot S&D download:
http://download.cnet.com/Spybot-Search-Destroy/3000-8022_4-10122137.html
ESET free online virus scanner:
http://www.eset.com/us/online-scanner/