Webcam stops working after 3 seconds from plugging in.

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I have Creative Live! Cam Sync HD 720p plug-and-play webcam for almost 4 years now and it was working perfectly fine, until one day my computer stopped showing captured by the webcam picture. After 3 days of trying different things and looking for solution, i got nothing. Tried reinstalling drivers, installing old ones so many times (and every action required restart of my PC, so it took a long time..)
But then I noticed, that when i unplug my webcam and plug it in again, the image captured by it IS DISPLAYED for literally 3 seconds. Tried more than 10 times (also on other USB slots) and I always was getting the result of 3 seconds. After that short time, the screen AND THE SOFTWARE that is displaying the image freezes for some time. When software unfreezes, i can use it again, but image is still frozen and when i restart the software or even close it and put it up again, the image is gone.

Can anybody help me with it? Thanks for all the answers :)