Well... you don't necessarily have to use any kind of a cooler at all... if the computer is in a cold environment (like a refridgerator). Of course, in most cases the processors will just fry without some sort of cooling. You can use a regular fan but better cooling usually means longer life for a component.
I say you get a aftermarket cooler. If it's been fine all this time with just a fan, than even a cheapo heatsink will improve cooling. But do not run it without any sort of cooling because the processor will keep getting hot and will eventually cause problems or just die.
Our old computer with a P3 only has a passive (meaning just a heatsink, no fans or liquid) heatsink and it's alive and kicking just fine (if very slowly) after 6 years thanks in part to being in the basement most of the time so it's always running cool.