For some modules, you might simply need to get a pass overall, so a fail mark in one component can be compensated by a higher mark in the remaining component(s). In other cases, you need to get a pass mark in each of the module's components.
In general, if you fail a module you'll be given another opportunity during the summer resit period to make up a failed component. If you fail that, then a progress board would make a decision on what happens next. There are probably a variety of options open to them.
You'll need to check what your university's regulations allow. Perhaps have a chat with your personal tutor.