Hi,
This shows the difference.
"How to Refresh Windows 8 and Windows 8.1"
http://www.eightforums.com/tutorials/2293-refresh-windows-8-a.html
Note
Which Settings will be Preserved
- All user accounts.
- Files in all users' C:\Users(user-name) folders. (ex: Desktop, My Documents, My Music, etc...)
- Wireless network connections
- Apps from the Windows Store will be kept.
- Mobile broadband connections
- BitLocker and BitLocker To Go settings
- Drive letter assignments
- Personalization settings such as lock screen background and desktop wallpaper
- Choices you made during Windows Welcome, such as computer name and user accounts, will not change.
- Network, Libraries, and Windows Update settings will not change.
- Customer Experience Improvement Program settings will not change.
- Windows Error Reporting settings will not change.
- Some drivers may or may not be removed.
Which Settings will be NOT be Preserved
- File type associations
- Display settings
- User settings
- Windows Firewall settings
- App settings
- All installed 3rd party desktop programs (not Store apps). A list of removed apps will be saved on your desktop after the refresh is finished to let you know which programs were removed.
- You PC settings will be changed back to their defaults.
- Installed Windows Updates will be removed.
- Some drivers may or may not be removed.
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"How to Reset Windows 8 and Windows 8.1"
http://www.eightforums.com/tutorials/2302-reset-windows-8-a.html
Note
Which files will be affected?
When you reset your PC, the drive will be completely reset, and all your apps and files will be removed from it. Windows 8 will be reinstalled, and you'll need to change any settings and reinstall any apps that you want to get back after resetting. If you know if any files that you don't want to lose, then you should back those files up before starting the reset.
What if I have multiple drives?
You can choose whether to reset all hard drives or just the one with Windows 8 installed on it. Any drive that Windows 8 doesn't recognize, such as those with non-Windows operating systems, will not be affected.
Cheers.