Definatley backup your data. But as far as your question goes i have used a restore CD to install XP on a computer before when i had to do a restart. I have a Dell that got corrupted and did a reformat and install. It worked but also had to use the other CDs that came with the system to restore drivers, etc. It depends on where the restore CD is from (ie. Dell, HP) if you can use it as a fresh install or not. Most of the time its an OEM version not a full version so you should be able to do a install.
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Phone: LG Optimus G Pro
Running: Stock JB from LG with Nova Launcher