Not sure about about photobucket, but since you are on blogger, can you not use your picasa account? We all have a set amount of free storage. After you use the free storage, you usually have to pay to buy more. Since the icon says you need to update to pro, I'm guessing you will have to pay to get more storage.
I quit using photobucket, Blogger now has a much easier way to post pics than in the past. And their options for picture size is a lot better too, from small, medium, large, extra large, or original size. I just resize my images in photoshop, save them 'for the web' and upload them unto blogger as original size. But I don't know how that will help you restore all your other images. :( So sorry I can't be more help. good luck!