How to fix PS3 yellow line of death?

I think my PS3 has the yellow line of death. Is there anyway to fix it. I've searched around online and have found no definitive answer. Any insight would be greatly appreciated. Thanks.

Suggestion:

This tutorial had over 1 million views for both parts combined. There is a 90% chance that this will fix your ps3, and it fixed mine too.

Here's part 1:

http://www.youtube.com/watch?v=4_Ic1_TY-GU&feature=fvw

Here's part 2:
http://www.youtube.com/watch?v=Vr1zyAGwnuU&feature=related