Is there evidence that the board itself (very likely made of epoxy-fiberglass like FR-4) or its circuit traces are damaged? If not, perhaps one or more failed components could be identified and replaced. It appears to be maybe a 1970s or 1980s vintage design based on what look like TO-8 hermetic packages for the 4 semiconductors on the upper right. The upper two are likely to be OP-amps or comparators, with signal levels adjusted by the two single-turn potentiometers, and the two blue multi-turn POTs perhaps adjusting an offset or threshold.The semiconductors labeled Q1 and Q2 are likely to be transistors if they have three leads.
The two electrolytic capacitors on the lower right are the most likely components to have failed given the age of the board. The semiconductors would be most vulnerable to any overvoltages / surges. Of course, a visible inspection should be done to identify any apparent physical damage on the components. At least continuity tests could be done on the transformers. Since there appear to be two identical signal channels on the board, resistance measurements across corresponding points on the two circuits could be made (including across individual components) to see whether any significant differences can be found. Such differences could help narrow down where a failed component might be.
Can you tell us what the basic function of the board is, or what type of equipment that it's in? What kind of symptoms did the board failure present?
I see that gar has just posted similar comments,