"Reset Your Progress"/"Restore Aaaaa Save File"

[waysofchanges]

I'm thinking about resetting my game so I can go back and record the radio clips that play in the menu from time to time (the ones presented by that weird guy "Nevin"). In the settings menu I see two buttons: one to reset my progress (pretty self-explanatory) and another that gives me the option to restore a save file (a little wary of pressing this one).
How exactly does restoring a save file work in this game? Where does it save to? Does this mean I can keep a particular save somewhere and use it in the game whenever I want?