Hello and welcome to the wonderful world of the OB,
It sounds like it's time to cut back those stalks.
What ever you use to cut them back (various methods have been mentioned before) make sure it's clean. Cut back to the near base of the Stalk.
See Member Articles section left menu bar, and you will find the care sheets.
The leaves are hopefully just limp through lack of moisture and so with any luck should hopefully recover.
Hopefully with time and the proper care it will survive. But I'm sure some one else will provide better reassurances.
By the way be warned, Orchids can become something of an addiction if you not careful, but where's the fun in careful