create new files.
data
In the worst case nothing (at least non of your software or data). When the disk is replaced you will need to re-install the operating system and at that point (unless you data is on a separate drive or you have backed it up) it will be as though you computer is new form the shop. If you have a backup then you can restore the data from this once the Operating System is re-installed.
Backing up data to disk can be rather time consuming depending on how much data one needs to transfer on to disk. Most computers have a backup facility where one would follow a set on on-screen instructions. Alternatively, one can copy and paste data from folders to the disk.
Formatting a disk that contains files of data can result in total data loss. Unless you have backed up all the data from a drive (if possible), do not format unless you are prepared to lose everything including your operating system, which you will then need to reinstall.
First you will need data recovery software. Here is data recovery software with step-by-step instructions: http://www.recovermyfiles.com/hard-disk-data-recovery.php.
magnetic
a Floppy Disk
mass
As little as possible. Floppy disks are prone to corruption and should be accessed as little as possible. It would be generally advised that no data should be stored on a floppy disk, and that any data you have on floppy disk should be removed and backed up on a more reliable format such as flash memory.
stand-alone computer
bus or buss.
Before computer memory chips and memory sticks were invented, floppy discs were used.