Convert RAID5 on HP ProLiant DL380p Gen8 to something else

[Spartan1120]

My server is a HP ProLiant DL380p Gen8 (Smart Array P420i) configured with RAID5 (256 KiB/768 KiB).  There is a single Logical Drive with 1 TiB of total usable space using 5 physical devices (all HP 300GB SAS HDD).  Four are active and there is one designated as an "Auto Replace Spare".

However, I was recently informed that RAID5 is no longer recommended for production use.  After a little bit of online research, I see conflicting information about the safety of using RAID5. 

First, I am wondering what my risk is keeping this server configured with RAID5.

Second, what is the process required to change the RAID configuration to something else?

Please advise.  Thank you.

[Dennis Handly]

>I see conflicting information about the safety of using RAID5. 

>I am wondering what my risk is keeping this server configured with RAID5.

How is it conflicting?  The recommendation should be to use RAID6, so you can withstand the failure of two drives.

Or are you asking about performance, whether to use RAID1 and take up more space?