Refresh your PC is a feature of Windows 8.1 which attempts to solve system problems by replacing system files without affecting user files. You might be asked to insert discs or recovery media that came with your PC. Check the info that came with your PC to see if your PC manufacturer provided these discs or media. In some cases, you might have created them when you first set up your PC. Apps you installed from websites and DVDs will be removed. Apps that came with your PC and apps you installed from the Windows Store will be reinstalled. Windows puts a list of removed apps on your desktop after refreshing your PC.
Remove everything and reinstall Windows is another recovery option shipped with Windows 8.1. It will completely reinstall your OS. All of your personal files will be deleted and your settings will be reset. All apps that you installed will be removed. Only apps that came with your PC will be reinstalled.
If you want to open Restore and Refresh recovery options with one click, here is the simple tutorial how to create the appropriate shortcut.